Propertyfinance progress

Propertyfinance group says it continued to make progress in stabilising its business activities in the six months to the end of September.

The company's main activities are the management of subsidiary Propertyfinance securities' moratorium and its rated mortgage bond programme.

Propertyfinance group said it recorded a loss of $73,000 during the half year, while its total assets at September 30 were $40.3 million.

Propertyfinance securities had been deconsolidated from the Propertyfinance group result due to the subsidiary no longer trading and being wound down under the moratorium.

- NZPA