Get notifications in real-time for staying up to date with content that matters to you.
Wide Bay Australia has confirmed expectations it will achieve a 12 per cent increase in net for profits for the financial year ending June 30 2008.
Managing director Ron Hancock admitted that the group had been exposed to higher funding costs but was able to recoup these losses through the introduction of higher interest rates.
The recent acquisition of Mackay Permanent Building Society (MPBS) is also expected to help contribute to the company’s forecasted $18.2 million net profit, which should please the 93 per cent of the group’s shareholders that accepted its ‘share plus cash’ offer.
“This is an excellent result to achieve such high acceptance levels and it reflects the confidence placed in Wide Bay by the MPBS shareholders and for the society’s continued growth and expansion throughout the area of Mackay Permanent’s operations,” said Mr Hancock.
Published: 07-04-08
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Major brokerage appoints new GM of distribution
Mortgage Choice has announced that Citi’s former head of bankin...
ANZ extends business loan terms
The major bank has announced that it will extend the maximum loan...
Credit growth stunted by dive in business lending
Credit growth has waned as a result of a sharp drop-off in busine...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Receive breaking news direct to your inbox each day
