NZF Group posts $16.2 m annual loss
The loss for the year ended March 31 compares with the $4.8 million loss it posted the previous year.
NZF Money's receivership and the home loans division sale contributed $13.3 million to the loss, comprising the $10.1 million write-off of NZF Money, a $2.1 million loss from the sale and the remaining $1.1 million from trading losses made by those two businesses during the year.
NZF says the net loss from continuing operations rose to $2.8 million from $1.7 million the previous year.
At March 31, NZF had $2.5 million in cash compared with $5.7 million a year earlier.
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