Peregrine puts record straight

Peregrine Investments Holdings has attempted to correct what it says was incorrect reporting of comments made by its chairman Phillip Tose at its annual meeting this week.

In his speech Mr Tose said the company's internal target of return on shareholders funds was between 15 per cent and 20 per cent a year. In a statement to the stock exchange, Peregrine said this was not a profit forecast for listing rule purposes and had therefore required no third party verification.