Heartland Group shares bounce back on 1H results

Heartland's shares rose on this morning's results.

Tue, 27 Feb 2024

Heartland Group’s shares lifted despite a 22.7% slide in net profit in the six months to Dec 31. The company, which owns Heartland Bank and a separate reverse mortgage business in Australia, reported a $37.6 million net profit after tax versus $48.7m in the same period a year earlier. Heartland’s preferred metric, underlying net profit after tax, which excludes one-off or non-cash technical items, was $52.7m, down 3.6%.The shares touched a high of $1.27 and were last trading up 3% at $1.20. Gross financ...

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