Net profit falls from $51.6m a year earlier, the Wellington-based company says.

All four firms are also involved in the government's partial privatisation programme.

The firm suspended its offer last week to allow a rewrite of its investment statement and prospectus.

The opening date for the sale of the bonds, which carry a coupon of 6.85%, will be deferred until the changes are made.

A public pool will be open on a first-come, first-served basis, with the offer opening on April 23 and closing on June 27.