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GFNZ returns to profit

GFNZ, formerly known as Geneva Finance, has returned to profitability.

Monday, 15 June 2015

The group reported an after-tax profit of $2.2 million for the year to March 31.\

Its before tax profit was $1.5 million

It follows a loss of $4.2 million in the previous year.

Key drivers were increased lending volumes, up 61%, and a focus on assert quality. Lending delivered 43% growth.

The group said the focus now that profitability had been achieved was on growth in core lending, insurance and debt collection.

It wants to grow its market share, optimise its insurance business potential and source new debt business.
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