Rangatira profit down

Investment company Rangatira has revealed a half-year net profit of $3.2 million, down from $7.9 million last year.

Sales for the year to September 30 were $2 million, compared with $1.9 million for the same time last year.

The profit included a $1.2 million gain from realisation of investments.

A fully tax-paid dividend of 15c will be paid on December 10.