Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Announcement to NZX for the Six Months to 30 Sept

Media Statement
20th October 06


DOMINION FINANCE HOLDINGS LIMITED

DIRECTORS’ ANNOUNCEMENT TO NZX

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2005

The Directors of Dominion Finance Holdings Limited (DFH) are pleased to report another solid performance for the six months ended 30 September 2005.

Key points are:

- Net Profit after tax for the Group for the six months ended 30 September 2005 was $4.139 million. This profit was wholly generated in DFH’s subsidiary Dominion Finance Group Limited (DFG) whose profit after tax for the same six month period in the previous year was $3.868 million representing an increase of 7.01%

- Total revenue for the six months to 30 September 2005 was $14.2 million compared with $12.2 million in DFG for the same 6 month period in the previous year an increase of 16.4%

- Total net finance receivables has increased by $12.9 million during the six month period and now stand at $162.9 million

- Shareholders Funds have increased from $25.924 million as at 31 March 2005 to $27.450 million as at 30 September 2005

- DFG continues to experience strong demand for its lending products but has taken a conservative position in maintaining a strong liquidity base and as at 30 September 2005 had cash reserves and undrawn bank lines of over $21 million

- The Directors have resolved to declare a fully imputed interim dividend of 2.7000 cents per share. The Record Date for the proposed dividend shall be 5.00pm on 4 November 2005 Payment Date 11/11/2005

- Shares on issue total 55,500,000

Outlook

Mr Terry Butler, Chief Executive Officer, said the six months for Dominion Finance Group (DFG) the operating company, was very satisfactory with revenue up 16.4% to $14.2 million and indications for the next 6 months were positive.

Total Assets had increased from $151 million as at 31 March 2005 to $168 million as at 30 September 2005. Shareholders Funds stood at $27.45 million. The interim fully imputed dividend of 2.7 cents per share is 23.8% higher than the interim dividend for the same period last year.

Enquiries for lending opportunities were still good but the Company had determined to maintain a greater level of liquidity and to manage organic growth to an acceptable level. The company had cash reserves and undrawn bank lines of over $21 million as at 30 September 2005. Dominion would continue to look for growth opportunities and had considered a number but for a variety of reasons had not progressed further with them.


ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Auckland Airport: North American Touch Downs Make AA Most Connected In Australasia
The return of American Airlines, the world’s largest airline, announced today has cemented Auckland Airport’s title as the Australasian airport with the most non-stop connections to the United States and Canada... More>>



Reserve Bank: Monetary Conditions Tighten By More And Sooner

The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 2.0 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability... More>>


The Download Weekly: Vodafone FibreX back in court

Vodafone and the Commerce Commission head back to court over FibreX in a week the TCF issues broadband marketing codes that should avoid similar problems in the future... More>>



Kiwibank: Savers To Benefit From Higher Returns Following OCR Rise

Following market movements Kiwibank is pleased to increase the interest rate and rates of return on its savings accounts... More>>

Fonterra: Provides 2022/23 Opening Forecast Farmgate Milk Price & Business Performance Update
Fonterra today announced its 2022/23 opening forecast Farmgate Milk Price and provided an update on its third-quarter performance... More>>


Stats: Quiet Start For Retail In 2022
The volume of retail sales was relatively unchanged in the March 2022 quarter, following a strong increase in the December 2021 quarter, Stats NZ said today... More>>