Scoop has an Ethical Paywall
UDC Finance lifts half year profit by 24%
Media Release
24 June 2013
UDC Finance lifts half year profit by 24%
UDC Finance has recorded a net profit after tax of $23.8 million for the six months to 31 March 2013, an increase of 24% on the previous half.
The result was driven by strong growth in revenue, while non–performing loans decreased by 29 per cent year-on-year.
In the past year, UDC has reduced its cost-to-income ratio by 11 per cent and grown lending by $29 million, or 5 per cent.
UDC’s CEO, Tessa Price, said: “These results add further to the momentum our team is building as New Zealand’s leading finance company.
“Our strong focus on quality lending has continued to deliver results in financing investment by Kiwi businesses in vehicles, plant and equipment. This growing readiness to invest, and signs that businesses are gearing up for better times, reflect an encouraging lift in confidence in the economy
“We will stay focused on meeting our customers’ needs so we can help businesses grow
“Through our investors we’re also
proud to be helping Kiwis to support New Zealand businesses
and our economy,” Ms Price said.
UDC
Finance Results:
http://img.scoop.co.nz/media/pdfs/1306/UDC_Finance_Results__1H13_v_1H12.pdf
ENDS
Great Journeys New Zealand: Travel Down Memory Lane With The Return Of The Southerner
WorkSafe NZ: Overhead Power Lines Spark Safety Call
Transpower: Transpower Seeks Feedback On Electricity Investment Short-list For Upper South Island
Commerce Commission: “Cheating The System” – Sentencing In Country’s First Criminal Cartel Case
Kiwi Economics: The Government’s Books Are Hard To Balance. Lower Productivity, Lower Tax, Higher Spend
Watercare: Watercare’s $13.2 Million Solution To Lift Long-term No-swim Warning At Judges Bay
