It reported growth in new loans of 7%. The earnings of and originators (franchises and vehicle dealers) were up 17% to $47.5m while its loan book had grown 10% to $1.1 billion.
A statement announcing the result last week said the sustained growth came off the back of a record FY2023 when sales grew 40%, and in a challenging economic environment.
A heavy investment in technology and people capability resulted in a 25% year-on-year decrease in underlying profitability, now at $4.6m, but took a long-term view of adding enterprise value, chief executive Chris Lamers said.
Chairman Mark Darrow said the continued diversification of MTF Finance’s product range not only created future growth opportunities but helped it manage through different economic cyles. The company expected this year to finish similar to the record FY23 year in terms of loan volumes.
