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Low-risk profile delivers record profit for Heritage

Staff Reporter 3 minute read

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.

“Heritage has maintained momentum comparative to the market which is a reflection of prudent and deliberate management,” he said.

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“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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Low-risk profile delivers record profit for Heritage
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