Thursday 13th December 2012 |
Text too small? |
UDC Finance, the finance company subsidiary of Australia & New Zealand Banking Group, said full-year profit rose 31 percent on increased lending.
Profit rose to $37.9 million in the 12 months ended Sept. 30, from $28.9 million a year earlier. Revenue grew 15.3 percent, it said in a statement.
UDC's lending book rose 3.5 percent to over $2 billion and new lending rose 7.5 percent, the company said. Its full results haven't yet been released to the Companies Office.
"These results also reflect new signs of confidence in the economy with businesses showing a readiness to invest in vehicles, plant and equipment," said chief executive Tessa Price.
UDC ranked second to GE Capital by total assets in 2011, according to KPMG's Financial Institutions Performance Survey. Net loans and advances were $1.97 billion at UDC, which just pipped GE Capital.
BusinessDesk.co.nz
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes