South Canterbury Finance says that coping with the last quarter, is a rebound for the organization after it lost out almost $200 million in the preceding six months.

Today, the company said that unaudited operating earnings for the March quarter amounted to $4m and comprised an optimistic net interest margin of $1.4m prior to one-off expenditures for investment losses of $3m, mutilation charges of $1.7m and $500,000 owing to foreign exchange losses.

Chief Executive, Sandy Maier said that South Canterbury reported a $198.6m net loss subsequent to tax for the six months to December last year and the latest break even outcome symbolized a decisive moment after the losses witnessed over the preceding 18 months.

He said, "This is a heartening outcome with many positive aspects for the future of the business".

The company's monetary position has gradually become better through loan reimbursements and non-core asset realizations and it now has $80million in the bank.

Realizations of overdue and non-core assets have produced $202 million cash since January this year.

The unaudited trading upshot for the quarter that ended in March is exclusive of donations from Helicopters NZ and 80% owned Scales Corporation both of which were purchased on February 28.