NZ developer threatened with suspension despite improved results

Wednesday 6 October 2004

Listed New Zealand developer Australasian Property Holdings Group Limited has been threatened with the suspension of its shares on the New Zealand Stock Exchange after failing to tender its annual report.

By The Landlord

APH, whose major development is an exclusive resort project in Sydney’s Blue Mountains, was warned by the NZX yesterday that if it did not produce its annual report immediately it would be suspended from trading tonight.

Despite the NZX threat, the group’s preliminary results to 30 June 2004 reported an improved performance with losses totaling NZ$1.7 million. In its 2003 annual results, APH Group recorded a loss in excess of NZ$7.4 million.

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