The statutory consolidated net profit after tax for the half-year to 31 December 2016 was $7.319m. This represents a 20.73% increase from $6.063m in the prior corresponding period.
The underlying cash profit for the half-year to 31 December 2016 increased to $7.319m compared to $6.782m in the prior corresponding period, an increase of 7.92%, after adjusting the prior half year result for the effects of non-recurring items. The material one-off items affecting the prior year result were branch rationalisation expenses of $682,000 and merger & acquisition project costs of $267,000 (before tax).
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