Motor Trade Finance first-half profit flat as shareholder returns chew up earnings gains

Sun, 20 May 2018

By Paul McBeth May 21 (BusinessDesk) - Motor Trade Finance reported flat first-half profit as the commissions and fees paid to its shareholder originators soaked up increased earnings from a rapidly expanding loan book. Net profit was unchanged at $4.4 million in the six months ended March 31 form the same period a year earlier, the Dunedin-based company said in a statement. Earnings before commissions and other gains climbed 10 percent to $26 million, lagging behind the 11 percent increase in amounts paid to its shareholder originators ...

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