PowerHouse has warned of a loss of up to£14 million in the six months to September 30.
A targeted loss of£8 million was set last year after the business was brought out of administration. In a statement issued to the New Zealand Stock Exchange, owner PRG said it expected to break even in the six months to March next year.
In line with previous expectations, bosses expect to achieve a full-year breakeven in the year to 2007. The statement noted that PRG's other businesses have exceeded profit expectations.