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RHG’s net profit continues to decline as its loan book gradually runs down.
Yesterday, the mortgage management firm posted a 33 per cent decline in net profit to 31 December 2009, as its loan book fell from $7.7 billion in June last year to $6 billion.
Chairman John Kinghorn said the period had been “challenging”, suggesting that a return to the market in November is unlikely.
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Earlier this month, the former non-bank lender managed to raise its full year profit guidance by $10 million, raising conjecture that it may return to the market or look to buy a loan provider later in the year.
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