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Dominion Finance Holdings Doubles Net Profit

Media Release
Wednesday 2nd May 2007

Dominion Finance Holdings Doubles Net Profit after Tax.

Dominion Finance Holdings Limited (DFH) has reported a tax paid profit for the year ended 31 March which is double the 2006 result.

Net Profit after tax of the Group for the year ended 31 March 2007 was $17.63 million generated from the two operating subsidiaries Dominion Finance Group Limited (DFG) and North South Finance Limited (NSF).

DFH Chairman Rick Bettle said “The Company has benefited from the acquisition of NSF particularly through operational efficiencies, has competitive scale and benefited from its established, reliable reputation which was recognised by both borrowers and investors.”

During the financial year ended 31 March 2007, DFH’s total revenue was $70.20 million. Total Assets increased 25% to $484.71 million, Equity increased 31% to $52.10 million and total Liabilities increased 24% to $432.60 million, from the previous financial year.

Chief Executive Paul Cropp says DFH has continued to be very cost efficient.

“We have a cost to income ratio of 20% and with a strong focus on quality we have delivered a very pleasing Return on Equity in excess of 38%. Lending enquiry remains good, there are no noticeable increase in accounts requiring management at this time and the level of debenture stock investor re-investment and new investor numbers are above expectations.”

The directors have resolved to declare a fully imputed dividend of 8.48 cents per share. The record date is 5pm 25 May 2007 and the payment date will be 1 June 2007.

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“Barring unforeseen circumstances the DFH Group is looking at exceeding last year’s record profit in the forthcoming financial year ending 31 March 2008,” concluded Mr Bettle.

Operating Subsidiaries

For the year ended 31 March 2007

 DFG Net Profit after tax was $12.86 million ($9.32 million to 31 March 2006) an increase of 38% from the previous financial year.

 DFG Total Assets increased to $314.00 million ($226.98 million as at 30 March 2006) an increase of 38% from the previous financial year.


 NSF Net Profit after tax was $8.39 million ($3.75 million to 31 March 2006) an increase of 124% from the previous financial year.

 NSF Total Assets increased to $139.68 million ($112.92 million as at 31 March 2006) an increase of 24% from the previous financial year.

ends

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