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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.
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
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