GFNZ first-half profit soars 423% on lending growth

Alexander PR In The Media

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GFNZ Group [NZAX: GFL], the finance company formerly known as Geneva Finance, posted a 423%  jump in first-half profit as the lender benefited from an expanded loan book.

Net profit rose to $1.5 million, or 0.31c per share, in the six months ended September 30 from $288,000, or 0.07c, a year earlier, the Auckland-based company said in a statement. Net interest income climbed 71%  to $2.5 million, and the lender’s loan book expanded to $48.9 million as at September 30 from $35.7 million a year earlier. Revenue grew 31%  to $5.8 million.

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