TOL get a big cheque this month for NZ$665 (A$554m) for sale of NZ rail and ferry operations back to NZ government.
The book value of the assets to be sold is NZ$430m, that equals PBT of NZ$240m on the transaction. Niiiice.
TOL expects settlement prior to June 30 2008.
This should help the stock a little Tuesday.
Peace.
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