tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, November 1st, 10:39AM

Investments

rss
Latest Headlines

UDC: On track for sale

UDC Finance says its half-year profit of $30.2 million positions it well for new ownership.

Tuesday, June 6th 2017, 7:21PM

It reported net profit growth of 11% compared to the same period the previous financial year, driven by low provision charges and lending growth across a range of industries.

“We’re well positioned as we move into a new period of HNA Group ownership, which will bring more growth and investment to UDC," said chief executive Wayne Percival.

Overall revenue was $60.4m, reflecting tighter margins and high quality lending. 

“UDC continues to support the New Zealand economy. Our financial performance reflects our strong customer relationships and a healthy business environment,”  Percival said.

“UDC is experiencing growth in lending to vital sectors including transportation, construction and forestry.

“Business confidence has flowed through to consumer lending too, with lending through car dealerships growing by 37%. New car sales are strong and UDC remains the preferred motor vehicle finance partner.”

Focus on cost control restrained total expenses to a 3% increase, and the cost-to-income ratio sat under 27%, representing no change from the same period in the previous financial year.

 

Tags: UDC

« FMT ticks over $500m in investmentsUDC vote approves trust deed change »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Rabobank 5.25  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com