Resimac Group Ltd (ASX:RMC) see net profit lift 85%

Company News

by Rachael Jones

Non-bank mortgage lender Resimac Group Ltd (ASX:RMC) today announced a normalised net profit of $26.9 million for the 6 months to 31 December 2019, up 85 per cent on the previous corresponding period (pcp).

Statutory NPAT of $27.2 million increased 44 per cent on the pcp.

Mr Scott McWilliam, Resimac Chief Executive Officer said the organisation successfully achieved home loan portfolio growth significantly above system while starting to realise the benefits of its investment in process improvement and digital automation.

The Board declared a fully franked interim dividend of 1.2 cents per share, up 20 per cent on the pcp.

Shares in Resimac Group Ltd (ASX:RMC) are trading 6.1 per cent higher at $1.57.