Financial Summary

2019 Operating summary

For the half-year ended 31 December 2019 the Group reported a Cash NPAT of $34.5m up 8.2% compared with the prior comparative period. This was driven by strong growth in interest income and lower cost of funds, offset by a reduction in fee income as we simplified our product offerings in BNPL and Cards. In addition, we saw expenses increase as a result of higher marketing and advertising spend. The Consumer Lease business, which ceased writing new business during this half has also impacted the overall result. A large loan loss provision for a Commercial equipment finance vendor program was written off in the first half of 2019, resulting in lower impairment expenses in the current period compared to the comparative period.

Cash Earnings Per Share (EPS) of 8.3c represents a 1% increase from prior comparative period of 8.24c, reflecting the increase in Cash NPAT and the placement of 20.1m shares in March 2019.

2016 Operating Results Image
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