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Thread: South Canterbury Finance (Helicopters NZ owner) in receivership
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Old 26th Nov 2010, 22:30
  #7 (permalink)  
fdr
 
Join Date: Jun 2001
Location: 3rd Rock, #29B
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maths
curious, HNZ made a 16.2 profit from 90m turnover, on about ?100m? assets, NZD

PHII makes about... 24 from 450m turnover, on about 800-300=500m assets.... USD

Same industry...

Last profit statement by SCF for 08 was originally +80m which turned out in reality to be -160m, so the parents of HNZ apparently have some problems with basic maths, as shown in their assumption of handing over HNZ and 1/3rd of Dairy Holdings to SCF to "recapitalise" them by 162m actually ends up being... 11.2m.

What is up with NZ accounting?
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