Corporate Highlights
Performance Summary and Highlights
To 30 June 2009
- Underlying NPAT * $7.198 million (2008: $8.018 million)
- Reported NPAT * ($12.854) million (2008: ($2.707) million)
- Funds under management
- Friendly Society $0.781 billion
- Property $0.878 billion
- Reverse Mortgages $0.215 billion
- Total FUM $1.874 billion (2008: $2.1 billion)
- Earnings per share Reported -$0.21 (2008: -$0.05 & 2007: $0.11)
Underlying $0.12 (2008: $0.13 & 2007: $0.12)
- 75% trend increase in underlying NPAT – 1st half $2.5 million, 2nd half $4.7 million
- Focus returned to core business units of property funds management and friendly society funds management
- Restructuring initiatives now paying off;
- reduced corporate expenses
- strengthened executive team
- legacy balance sheet issues written down
- corporate debt reducing steadily
- Profit guidance to be reinstituted
* NPAT - Net Profit after Tax to 30.06.09
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