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Heritage Building Society has posted a record profit of $29.360 million; its ninth consecutive full year before tax gain.
After tax, the mutual also recorded a record profit of $20.466 million, a 4.6 per cent increase on the prior financial year.
Brian Carter, Heritage chairman, attributed the result to Heritage’s prudent, low-risk profile.
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“Heritage has maintained momentum comparative to the market which is a reflection of prudent and deliberate management,” he said.
“In spite of the recent market conditions we continue to achieve these strong results because the society has not compromised on the quality of our loan book,” he said.
Published: 26-09-08
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