Australia's Resimac Group falls most in over 3 months on lower HY profit

Resimac

24/02/2023 01:03

** Shares of Resimac Group  RMC.AX  fall as much as 7.3% to
A$1.08, on track to post their biggest intra-day percentage fall
since Nov. 21
    ** Non-bank home loan lender says its HY statutory net
profit after tax fell 27% to A$38.9 mln ($26.49 mln) 
    ** Stock hits lowest since Jan. 11
    ** RMC says loan impairments remained at low levels during
HY, however early stage arrears have increased
    ** Co's net interest income fell 6% to A$117.2 mln in HY 
    ** Says lower net interest income driven by lower home loan
assets under management during the period
    ** Stock up 13.7% YTD as of last close 
($1 = 1.4686 Australian dollars)
 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))