General Capital (GEN:NZ) subsidiary General Finance update

General Capital Limited advises that its subsidiary General Finance Limited, a licensed Non-bank Deposit Taker, will upload its quarterly report for the quarter ended 31 December 2021 to the Disclose Register today.

The attached unaudited quarterly report shows that General Finance’s business has continued to grow with the achievement of new record levels in its total assets and Net Profit After Tax (NPAT).

• General Finance’s total assets exceeded $90 million for the first time at 31 December 2021, up 14.6% from 30 September 2021 and 40.5% from 31 March 2021.

• General Finance’s NPAT for the quarter ended 31 December 2021 (Q3) of $444k was a new record quarterly NPAT for the subsidiary, 37.5% higher than the quarter ended 30 September 2021 (Q2).

• General Finance’s YTD NPAT for the 9 months ended 31 December 2021 was $985k, significantly higher than full year NPAT in the year ended 31 March 2021 of $223k.

• General Finance’s capital ratio was 15.68% at 31 December 2021, which is nearly double the 8% minimum requirement.

Mr. Brent King, Managing Director, explained that this report is required as General Finance Limited holds a Non-bank Deposit Taker licence and the reporting is a requirement of the Financial Markets Conduct Act 2013.

“It has been another very positive quarter for General Finance. We will continue to advise the market each time General Finance Limited uploads a document to the Disclose Register”, said Mr. King.

The information can also be found at www.disclose-register.companiesoffice.govt.nz.

For further information contact:

Brent King
Managing Director
General Capital Limited
+64 21 632 660
[email protected]

1 February 2022

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Announcement PDF