The Resimac Group (ASX:RMC) sees second half profit fall

21Nov

The Resimac Group (ASX:RMC) sees second half profit fall

 

The Resimac Group (ASX:RMC) show their 1H20 normalised NPAT guidance in the range of $24 million to $27 million reflecting lower first quarter funding costs.

These were driven by the relatively low spreads between the RBA Cash Rate and 30 day BBSW, and continued strong Assets Under Management growth.

With continuing uncertainty about RBA monetary policy and cash rates, they expect 2H20 NPAT to be lower than 1H20 NPAT.

Resimac is a leading non-bank residential mortgage lender and multi-channel distribution business.

Shares in Resimac Group (ASX:RMC) are trading flat at $1.07.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

15Aug

Stocks of the Hour: NAB, CBA, Suncorp & Westpac

12 Aug 2021 - A snapshot of the stocks on the move featuring National Australia Bank's (ASX:NAB) Q3 update along with headlines from Commonwealth Bank (ASX:CBA), Suncorp (ASX:SUN) and Westpac (ASX:WBC).

Read More
08Dec

Stocks of the Hour: Corazon Mining, Synertec Corporation, Imagion Biosystems

08 Dec 2022 - A snapshot of the stocks on the move featuring Corazon Mining (ASX:CZN), Synertec Corporation (ASX:SOP) and Imagion Biosystems (ASX:IBX).

Read More
25Aug

The Scentre Group (ASX:SCG) reports $3.6 billion loss

25 Aug 2020 - The Scentre Group (ASX:SCG) reports a loss of $3.6 billion for the six month period to 30th June.

Read More
09Oct

Phoslock Environmental Technologies (ASX:PET) place $1.3m order for Florida wetlands projects

09 Oct 2019 - Phoslock Environmental Technologies (ASX:PET) US licensee SePro Corp has today placed a significant order for Phoslock to be used in Florida projects.

Read More
26Aug

Jumbo Interactive (ASX:JIN) reports that Covid restrictions drive players online

26 Aug 2020 - Internet lottery business, Jumbo Interactive (ASX:JIN), today released full year results that are highlighted by growth during a period of lower jackpot activity cycling from very strong results in FY2019.

Read More
03Jan

Costa Group Holdings (ASX:CGC) sees berry tenants packing shed damaged in fires

03 Jan 2020 - Vitalharvest Freehold Trust (ASX:VTH) who leases assets to Costa Group Holdings (ASX:CGC) says they packing shed at Tumbarumba berry farm has been damaged by bushfires.

Read More
21Feb

Pilbara Minerals (ASX:PLS) moderates production on soft lithium market

21 Feb 2020 - Pilbara Minerals (ASX:PLS) saw weaker customer demand and lower spodumene concentrate prices which both impacted the company’s half year results.

Read More
27Mar

Why Quality Matters?

27 Mar 2023 - Quality is a frequently used term in investing, but from Magellan’s experience definition really does matter. Why? Because not all company fundamentals are the same. Elisa Di Marco, Manager of the MFG Core ESG Strategy, explains further.

Read More
02Feb

Stocks of the Hour: Chariot Corporation, WA1 Resources, Carnaby Resources

02 Feb 2024 - A snapshot of the stocks on the move, featuring Chariot Corporation (ASX:CC9), WA1 Resources (ASX: WA1) and Carnaby Resources (ASX:CNB).

Read More
02Dec

Mesoblast (ASX:MSB) shares soar on FDA approval

02 Dec 2020 - Mesoblast (ASX:MSB) today announced that the United States Food and Drug Administration (FDA) has granted Fast Track designation for remestemcel-L in the treatment of acute respiratory distress syndrome (ARDS) due to Covid-19 infection..

Read More