UDC turns in a solid first half for ANZ

Fri, 28 Jun 2019

By Pattrick Smellie June 28 (BusinessDesk) - Specialist commercial lender UDC Finance increased first-half net profit 6 percent but sees slower growth in lending in the period ahead as the economy cools. Net profit climbed to $34.7 million for the six months to March 31, from $32.7 million a year earlier. Total revenue for the period lifted 11 percent to $73.4 million and total lending stood at $3.3 billion at balance date, from just over $3 billion a year earlier. "Continued consumer and business investment in motor vehicles, plant a...

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