Heartland complains about share price as covid-hit profit falls 2.2%

Thu, 17 Sep 2020

Heartland Group Holdings' annual net profit eased 2.2 percent after allowing $9.6 million to cover potential covid-19-related credit losses. However, the group expects to lift profit by as much as 18 percent in the current year as it grows its motor, business and reverse mortgage lending. And it says its share price "may not appropriately reflect the underlying nature of its business," so the board has asked management how to optimise value. Heartland shares are trading at $1.27, up 8 cents, or 6.7 percent, from yesterday but are down...

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