FINANCIAL YEAR ENDED 30 JUNE 2018
Review and results of operations
The underlying net profit after tax (NPAT) for the consolidated entity for financial year 2017/18 was $17.108m compared to $15.691m for 2016/17. This represents an increase of 9.0%.
The statutory consolidated NPAT for the 2017/18 financial year was $17.886m compared to the result of $15.149m for the 2016/17 year.
The underlying NPAT has been calculated after adjusting for the effects of discontinued operations on the sale of MoneyPlace. The operating losses arising from the bank’s controlling interest and the gain on sale of the investment in MoneyPlace have been adjusted against the consolidated NPAT. In addition, there were professional fees and stamp duty relating to the M&A transactions in the 2016/17 financial year and an amount $0.092m before tax ($0.064m after tax) representing professional fees on the sale of MoneyPlace in the 2017/18 financial year.
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