Wrightson admits earnings report error

Rural services group PGG Wrightson yesterday admitted an error in its earnings report last month when it said earnings before interest tax was $54.5 million.

But it corrected this in its annual report, saying earnings before interest tax and amortisation was $54.5 million. Most observers have disregarded the error, saying other numbers in the earnings presentation make the mistake obvious.

It is not clear if the company will clarify the error with the NZX. PGG Wrightson's shares rose 4c yesterday to $1.70.