The net deficit to 31 December was $25.64m, a result which included Prestige’s contribution from 19 November.

This compares to a profit of $36.4m in the same three quarters of 2013.

Revenue grew to $789m from $600m, but marketing and other administrative costs rose to $224m from $121m and interest expenses were also higher due to the takeover.

Its full-year profit was higher at $342.6m,