Heartland's 1H profit dampened by restructuring, accounting changes

Mon, 18 Feb 2019

By Jenny Ruth Feb. 19 (BusinessDesk) - Heartland Group lifted first-half profit 6.5 percent with growth from its Australian reverse mortgage unit, business lending and its Open-for-Business digital lending platform particularly strong. The group reported a net profit of $33.1 million for the six months ended December, up from $31.1 million. The latest result was dragged down by the $900,000 cost of listing on ASX, adverse currency movements of $1.2 million, and a one-off impact of a new accounting standard covering impaired loans. Chie...

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