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General Finance experiencing good growth

Thursday 2nd of July 2015

“The year to March 2015 was a good year for General Finance”, director James Lockie said. The company was issued with a Non-bank Deposit Takers licence by the Reserve Bank in February 2015. Its deposit base grew by 20%, over the last year, and its lending business has expanded.

"Profitability also strengthened on the back of increased lending.”

General Finance reported the following audited result:

  •  Pre-tax profit from operating activities increased to $432,586, up 52% from $284,211.
  •  Lending (and receivables) increased to $9.33 million, up 7.0% from $8.71 million.
  •  The company’s deposit base increased to $7.79 million, up 20% from $6.47 million.
Capital was maintained at $3.2 million, with a risk weighted capital ratio of 55% (well above the 10% required).

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@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
2 days ago Goldcard
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