RHG profit slumps 33pc

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.

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.