Aussie’s profit line grows

The Pak Banker - - Company& -

SYD­NEY: A boom­ing prop­erty mar­ket late last year has un­der­pinned a 40 per cent surge in profit for high-pro­file mort­gage bro­ker Aussie Home Loans.

The profit re­bound rep­re­sents a lift for Com­mon­wealth Bank, which snapped up a 33 per cent stake in Aussie at the height of the global fi­nan­cial cri­sis.

Aussie's lat­est ac­counts show a net profit of $31.4 mil­lion for the year to June 30. This was up on the $22.6 mil­lion in 2009, ac­cord­ing to a fil­ing with the Aus­tralian Se­cu­ri­ties and In­vest­ments Com­mis­sion.

The busi­ness, chaired by John Sy­mond, gen­er­ated rev­enue of $202.7 mil­lion in 200910, rep­re­sent­ing a 23.4 per cent in­crease on the pre­vi­ous year. Div­i­dends of $11.3 mil­lion were paid over the past year, with the to­tal split be­tween Com­mon­wealth Bank and Mr Sy­mond's pri­vate in­vest­ment ve­hi­cle. -PB News

IS­LAM­ABAD: Fed­eral Min­is­ter for In­for­ma­tion and Broad­cast­ing Qa­mar Za­man Kaira talk­ing to Mehmood Riaz, Min­is­ter for Over­seas, In­for­ma­tion and En­vi­ron­ment, Govern­ment of AJK who called on him. -App

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.