Asset Finance, a GFC survivor, doubles full-year profit as interest income grows

Fri, 11 Sep 2015

By Jonathan Underhill Sept. 11 (BusinessDesk) - Asset Finance, a small Whakatane-based finance company that survived the global financial crisis despite a business model based on issuing debentures, doubled its profit in the latest year as interest income rose and expenses fell. Net profit was $1.5 million in the year ended March 31, from $700.8 million a year earlier, according to the company's annual report. Operating income rose about 20 percent to $5.98 million, driven by growth in interest income. The niche lender, which is contro...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Primary Sector
Another class action against A2, this time in Auckland
Rebecca Howard | Wed, 18 May 2022

The opt-in class action has been filed in the Auckland High Court and already includes one financial institution. 

Argosy's property income slips as portfolio's value rises
Jenny Ruth | Wed, 18 May 2022

Argosy will pay out more in dividends than adjusted funds from operations, as foreshadowed a year ago.

Primary Sector
Fed Farmers' Lewis stepping down after 17 years
Rebecca Howard | Wed, 18 May 2022

Federated Farmers board member Chris Lewis said it was time for change within the organisation.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.