The big one for me is book value.
book value x0.90 = buy
book value x1.20 = fair value
book value x1.50 = sell
Printable View
The big one for me is book value.
book value x0.90 = buy
book value x1.20 = fair value
book value x1.50 = sell
What is the current book value? X 1.09?
HGH: Heartland's FY2023 result demonstrates resilience
NZX/ASX release
29 August 2023
Heartland's FY2023 result demonstrates resilience
Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to
announce a net profit after tax (NPAT) of $95.9 million for the financial
year ended 30 June 2023 (FY2023). On an underlying basis, FY2023 NPAT was
$110.2 million. NPAT increased $0.7 million (0.8%), and on an underlying
basis, $14.1 million (14.6%), compared with the financial year ended 30 June
2022 (FY2022).
Highlights for FY2023
Financial highlights
- NPAT of $95.9 million, up 0.8% ($0.7 million) on FY2022 NPAT. Underlying
NPAT of $110.2 million, up 14.6% ($14.1 million) on FY2022 underlying NPAT.
- One-off or non-cash technical items had a $14.3 million net impact on NPAT.
- Gross finance receivables (Receivables) of $6.8 billion, up 10.1% ($625.5
million).
- Underlying return on equity (ROE) of 11.9%, down 68 basis points (bps).
- Net interest margin (NIM) of 3.97%, down 8 bps. Underlying NIM of 4.00%,
down 16 bps.
- Net interest income (NII) of $282.0 million, up 12.7%. Underlying NII of
$283.9 million, up 14.3%.
- Underlying cost to income (CTI) ratio of 42.0%, down 53 bps on FY2022.
- Underlying impairment expense ratio of 0.36%, up 7 bps.
- FY2023 final dividend of 6.0 cents per share (cps), resulting in a FY2023
total dividend of 11.5 cps, up 0.5 cps on the FY2022 total dividend.
- Earnings per share (EPS) of 14.0 cps, down 2.1 cps. Underlying EPS of 16.0
cps, down 0.3 cps.
Strategic highlights
- $199 million raised through 2022 equity raise to fund growth ambitions for
existing businesses and repay acquisition-related bridge debt of $174 million
(A$158 million).
- Completed the integration of StockCo Australia into Heartland.
- Signed a conditional share purchase agreement for the purchase of
Challenger Bank Limited (Challenger Bank) on 20 October 2022, subject to
obtaining the requisite regulatory approvals.
- Australian Reverse Mortgages business increased market share to 38.4%.
- Heartland Bank Limited (Heartland Bank) awarded Canstar New Zealand's Bank
of the Year - Savings award for the sixth consecutive year.
- Nearing completion of the upgrade of Heartland Bank's core banking system.
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Duplicate post....
those darn technical items lol
The 6 cents per share fully imputed divie is most welcome