Bit of a price drop before results tomorrow.
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Bit of a price drop before results tomorrow.
Bad day for HMY is a bad day for HGH?
All that translation into Te Reo that we absolutely "love" takes a bit of extra time ;)
Heartland announces full year NPAT of $87.0 million - NZX, New Zealand’s Exchange
Heartland announces full year NPAT of $87.0 million
24/8/2021, 9:33 amFLLYRNZX/ASX release
Heartland announces full year NPAT of $87.0 million (or $87.9 million on an underlying basis after removing the impacts of one-offs)
24 August 2021
Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to announce a net profit after tax (NPAT) of $87.0 million for the financial year ended 30 June 2021 (FY2021), an increase of $15.1 million (20.9%) compared with the financial year ended 30 June 2020 (FY2020).
On an underlying basis, FY2021 NPAT was $87.9 million, an increase of $11.0 million (14.3%) compared with the FY2020 underlying NPAT.
Highlights for FY2021
‒ NPAT of $87.0 million, up 20.9% ($15.1 million). Underlying NPAT of $87.9 million, up 14.3% ($11.0 million) on FY2020 underlying NPAT.
‒ One-off items had a $0.8 million net impact on NPAT, consisting of $4.1 million of one-off net gains and $6.9 million of one-off expenses (net of tax).
‒ Gross finance receivables (Receivables) of $5.0 billion, up 7.9% ($368.5 million).
‒ Return on equity (ROE) of 11.9%, up 144 basis points (bps).
‒ Net interest margin (NIM) of 4.35%, up 2 bps.
‒ Net interest income (NII) of $233.5 million, up 7.8%.
‒ Cost to income (CTI) ratio of 46.8%, up 1.5 percentage points (pps). Underlying CTI ratio of 44.8%, down 0.1 pps, and CTI ratio of 43.9% for the second half of FY2021 (2H2021).
‒ Impairment expense as a percentage of average receivables decreased from 0.65% in FY2020 to 0.31% in FY2021.
‒ FY2021 final dividend of 7.0 cents per share (cps), taking FY2021 total dividend to 11.0 cps – an increase of 4.0 cps from FY2020 due to the easing of restrictions imposed by the Reserve Bank of New Zealand (RBNZ) on distributions by banks in New Zealand.
‒ Earnings per share (EPS) of 14.9 cps, up 2.4 cps.
‒ Heartland Bank Limited (Heartland Bank) remains one of two Australasian banks to have no reduction or adverse change to its ratings or outlook by Fitch Ratings since January 2020.
‒ Further digitalisation and continuous integration of product applications and platforms in New Zealand and Australia.
‒ New Zealand Reverse Mortgages awarded Consumer Trusted Accreditation (fourth consecutive year).
‒ Australian Reverse Mortgages awarded Your Magazine’s 5-Star Lender Award and InfoChoice’s Best Reverse Mortgage Award.
‒ Heartland Bank awarded Canstar Savings Bank of the Year 2021 (fourth consecutive year), and 5-Star Ratings for Outstanding Value for its Direct Call and YouChoose accounts.
‒ Heartland Bank became the National Foundation for Deaf and Hard of Hearing’s first Hearing Accredited Workplace.
See the attachments to this release, including the FY21 Results Release for further information.
- Ends -
Jeff will manage F22 profit to $97m (even though he says $93m to $96m)
That's all what matters
Yet another a stunning result. The numbers I always look at with most interest are all looking good:
- Return on equity (ROE) of 11.9%, up 144 basis points (bps).
- Net interest margin (NIM) of 4.35%, up 2 bps.
- FY2021 final dividend of 7.0 cents per share (cps), taking FY2021 total
dividend to 11.0 cps
Is there a potential capital raising to fund the purchase of the Harmoney escrow shares that get released on Sep 1?
More than I expected in a nice way .
Initially I expected the lockdown would result in a fall in SP but happily I think I am going to be proved wrong !
In the last week I have really started using online delivery and would happily not go out shopping again to a supermarket-had a nice delivery to the door this morning from petdirect-significantly cheaper than supermarket
Excellent result and well pleased with the larger than expected final dividend of 7 cps, a record.
Looking ahead they expect $93 - $96m which is slightly ahead of my expectations with the mid point being $94.5m.
Early calculations, I have them on a forward PE of 13.2 and a gross yield of 7.5% (assuming eps of 16 cps which is midpoint of their forecast and dividends of 11.5 cps).
Very happy holders and signed up to their dividend reinvestment plan quite some time ago. I am expecting a record high closing share price today.
Yes ticked all the boxes.