MTF displays ‘resilience’
MTF is anticipating a slowly strengthening economic landscape, and is focused on continuing its business transformation, launching an “evolved brand” and navigating regulatory changes.
With a strong balance sheet, the company is “well-prepared to sustain quality growth”, and deliver value to shareholders, originators and customers “over decades, not just quarter to quarter”.
MTF’s annual report demonstrates “the strength of its unique model in navigating a turbulent environment” with the business delivering another record year.
Chris Lamers, pictured, chief executive officer, says: “This year, we continued our transformation journey, revamped our brand strategy based on in-depth market research and strengthened our customer-first philosophy.
“Our local owner-operators provide unmatched and personalised service, ensuring customers are seen as individuals not just numbers.”
Chairman Mark Darrow adds: “If financial year 2023 showcased our potential in favourable conditions, 2024 demonstrated our resilience against headwinds.
“Despite economic challenges, the company along with our originators performed extremely well. This is a testament to the strength of our model, strategy, commitment of our team and trust of customers.”
MTF’s ongoing three-year transformation programme is rebuilding core technology platforms to enhance efficiency, enable rapid product development and improve customer choice.
Complementing this, investments in national marketing campaigns and an expanded franchise footprint have positioned it for scalability and growth.
MTF’s credit quality has remained a “standout” with 31-plus day arrears below one per cent, “significantly” less than industry averages.
During 2023/24, finance receivables grew by 10 per cent to a record $1.1 billion, “reflecting sustained demand” for MTF’s lending solutions.
Total earnings distributed to originators increased by seven per cent when compared to the previous year to a record $91.6 million, the highest return to date for MTF’s network.
Gross revenue of $175.1m went up by 27 per cent and the company expanded its base by 12 per cent from 2022/23 – from 63,500 to 71,000 customers. Its combination of underlying profit and originator earnings surpassed $100m for the first time.
