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Article: Reinvestment rate over 80% 'incredible'; PGG WRIGHTSON FINANCE
- Article from:
- The Press
- Article date:
- September 2, 2008
- Author:
CopyrightCopyright 2008 The Press. Provided by ProQuest LLC. (Hide copyright information)
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PGG Wrightson Finance says it is riding out the storm in the
finance company sector with exceptional reinvestment rates by
investors.
A reinvestment rate of more than 80 per cent was an "incredible
achievement, given the carnage in the market", head of PGG Wrightson
Finance Mark Darrow said.
The unit of listed PGG Wrightson has also forecast loan-book
growth of about 27% in the fiscal year to June 30, 2009 and that
reinvestment rates should continue above 80%.
PGGW Finance had 50 staff spread through 19 offices serving a
market that was largely insulated from general market dynamics, and
a rural hinterland that was doing very well, Darrow said.
"I've just spent the last three weeks out ...