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Heartland profit forecast downgraded, but future positive
Thursday 20th of September 2012
The value of Heartland New Zealand's non-core property portfolio is likely to decline further, despite the $30 million in losses already chalked up,says Forsyth Barr analyst Chris Cairns.
The portfolio was valued at $94 million at June 30 this year and Heartland said when it announced its results last month it had fully utilised the $30 million buffer provided by its arrangement with Pyn...
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