PGC reports loss

Pyne Gould Corporation has reported a $6.6 million loss for the six months to December 31, after a profit of $1.9m for the same time in 2012.

The investment company has been split up and sold off over recent years – and remains mostly as fund management firm Torchlight. Perpetual Group and van Eyk were sold last year.

Its main business, Marac Finance, became part of Heartland Bank.

Torchlight brought in $3m in management and trustee-fee income.