CUA pre­dicts more growth

Townsville Bulletin - - Investor -

Chris White­head CREDIT Union Aus­tralia Ltd ( CUA) has re­ported an eight per rise in first half net profit and fore­cast fur­ther growth. CUA said its unau­dited net profit in the six months to De­cem­ber 31 was $ 21.6 mil­lion, up from $ 20 mil­lion in the pre­vi­ous cor­re­spond­ing pe­riod. The com­pany wrote more than $ 1 bil­lion in new loans in the first half, while de­posits grew by 7.7 per cent to $ 5.34 bil­lion, it said. The first half profit growth was mod­est as in­vest­ments were be­ing made to drive com­pany growth, chief ex­ec­u­tive Chris White­head said yes­ter­day.

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