Instant Finance lifts full-year profit by 11%, sees signs of jobs growth in South Auckland

Thu, 13 Aug 2015

By Jonathan Underhill Aug. 13 (BusinessDesk) - Instant Finance, which stopped issuing debentures in favour of a wholesale facility and preference shares to fund its loan book in the wake of the global financial crisis, posted an 11 percent gain in full-year profit on growth in interest income and the launch of its MyFinance brand. Profit rose to about $7.2 million in the 12 months ended March 31, from $6.4 million a year earlier, the Auckland-based company's annual report shows. Interest income climbed 5 percent to $24.5 million, helping...

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