F and P Finance boosts FY profit 20 percent on lending growth, cheaper debentures

Sun, 14 Jul 2013

July 15 (BusinessDesk) - Fisher & Paykel Finance, whose parent F&P Appliances was bought out by China’s Haier last year, boosted annual profit 20 percent on lending growth on its Q Card and cheaper funding from its debentures. Net profit rose to $19.9 million in the 12 months ended March 31 from $16.6 million a year earlier, according to financial statements lodged with the Companies Office. Net interest income gained 7.6 percent to $42.7 million. The Auckland-based lender boosted net receivables to $439 million as at March 31 from $395.5 m...

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