GFNZ first-half profit soars 423% on lending growth

Sun, 13 Dec 2015

By Paul McBeth Dec. 14 (BusinessDesk) - GFNZ Group, the finance company formerly known as Geneva Finance, posted a 423 percent jump in first-half profit as the lender benefited from an expanded loan book. Net profit rose to $1.5 million, or 0.31 cents per share, in the six months ended Sept. 30 from $288,000, or 0.07 cents, a year earlier, the Auckland-based company said in a statement. Net interest income climbed 71 percent to $2.5 million, and the lender's loan book expanded to $48.9 million as at Sept. 30 from $35.7 million a year ea...

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