The Resimac Group (ASX:RMC) sees second half profit fall

Company News

by Rachael Jones

The Resimac Group (ASX:RMC) show their 1H20 normalised NPAT guidance in the range of $24 million to $27 million reflecting lower first quarter funding costs.

These were driven by the relatively low spreads between the RBA Cash Rate and 30 day BBSW, and continued strong Assets Under Management growth.

With continuing uncertainty about RBA monetary policy and cash rates, they expect 2H20 NPAT to be lower than 1H20 NPAT.

Resimac is a leading non-bank residential mortgage lender and multi-channel distribution business.

Shares in Resimac Group (ASX:RMC) are trading flat at $1.07.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.