Profit jump for PGC

Pyne Gould Corporation has reported a 56 per cent jump in profits and an increased dividend ahead of its NZX listing this month.

PGC, which holds a 55 per cent share in rural services firm Pyne Gould Guinness, reported a net profit after tax of $10.8 million in the December half, up from $6.9m in the first half of 2002.

Revenue rose 13 per cent to $219.2 million, and PGC's interim dividend has been bumped up 2.5 cents to 11 cents a share on the strength of the results.