Australia's Resimac Group plunges on weak HY profit, forecast

Resimac

18/02/2025 24:45

** Shares of Resimac Group  RMC.AX  fall 12.6% to A$0.905
    ** Stock fell as much as 18.4% earlier in the day, their
biggest intraday drop since mid-March, 2020
    ** Non-bank lender reports HY normalized NPAT of A$15
million ($9.53 million), down 12.3% compared to previous year
    ** Says it is probable that group will not meet NPAT
consensus for FY25, based on recent experience with arrears, net
write-offs 
    ** RMC stock top loser on ASX All Ordinaries index  .AORD 
    ** Stock down 9.7% YTD, including current session's moves


($1 = 1.5741 Australian dollars)

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))