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Homeloans Ltd over the weekend reported a net profit after tax, before significant items, of $4.7 million, for the year ending June 2008.
Statutory NPAT after significant items was ($12.5) million, following write downs of $17.2 million predominantly relating to goodwill and deferred costs in its Securitsation of Mortgages segment.
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Key contributors to the result included Homeloans Ltd’s recent acquisitions of Independent Mortgage Corporation (IMC) and Auspak Financial Services.
Commenting on the result, Brian Jones, Homeloans Ltd managing director, said: “Whilst it’s been a tough year for the mortgage industry... Homeloans has maintained the focus on growing our nationwide distribution networks and diversifying arrangements.
"As a result, mortgages under management increased 22 per cent, reaching $6 billion for the year.”
Published: 2-09-08
