ANZ's UDC finance unit increases first-half profit 11%

ANZ's UDC finance unit increases first-half profit 11%
By Tina Morrison June 3 (BusinessDesk) - UDC Finance, the finance company owned by ANZ Bank New Zealand, lifted first-half profit 11 percent as it grew lending for road freight and car loans. Net profit rose to $28.4 million in the six months ended March 31, from $23.8 million a year earlier, the Auckland-based lender said in a statement. Road freight lending increased 15 percent from the year earlier, while car loans grew 13 percent. "Through our lending to sectors such as road freight we’re helping businesses deliver to strong demand...