NZF announces their full year results:

http://file.nzx.com/000/957/3758957.pdf

Quote Originally Posted by Highlights
NZF’s four key operating segments all showed strong returns to profitability; the most notable of
which were the Home Loans and Property Finance Divisions, which contributed $4.345 million and
$1.021 million respectively to the audited profit from trading operations for the year.
An overall loss, for the year, was declared after writedowns of goodwill:

Quote Originally Posted by Goodwill impairment
Goodwill impairment testing indicated that the carrying
amount of goodwill allocated to NZF’s 50% Joint Venture Investment in MPMH Limited exceeded its
estimated recoverable amount by $6.975 million. The Directors have accordingly accounted for this
impairment loss in the financial statements, which has resulted in NZF reporting a retained loss of
$4.596 million for the year attributable to equity shareholders.
Since the goodwill write down is not a cash loss, this is probably a good time to take the write down. I assume that from a tax viewpoint this allows 30% of the operating profit to be maintained. While overall assets go down - maximum cash is maintained in the company.

All in all ... a solid result.