Geneva profits climbing
Geneva Finance has announced its latest unaudited half-year results are expected to reveal a pre-tax profit of $3.96 million, an increase of 21 per cent from the same period a year ago, despite the impact of Covid-19 lockdowns.
The figures for the six months to the end of September are also 4.6 per cent higher than a guidance announcement made by the company on September 14.
David O’Connell, managing director, says: “I am impressed by how the entire Geneva team has adapted and focused on making the best of the difficult circumstances the company has faced through these unprecedented times.
“Across the lending, insurance, and collections teams and the support functions of IT and finance, each member has buckled down and given their best to ensure the company comes out in the best shape possible.”
Geneva revealed the increased profit in an announcement to the NZX on November 8.
It adds the board has also approved the interim dividend of 1.25 cps, which is unchanged from last year, with the payment date being brought forward to November 30. The ex-dividend date will be November 16.
The company says the impact of the half-year figures on the full-year result is expected to be positive, “though is dependent on the term and frequency of any further Covid restrictions”.
