LISTED broker Mortgage Choice Limited (ASX: MOC) has announced a group net profit after tax of $7.5 million in the first half year of 2013, up 17% on $6.4 million in 1H12.
Total group revenue rose 3.3% to $74.2 million.
Total loan book, i.e. loans written by mortgage brokers in its franchise network and its aggregation arm, LoanKit, reached $46.3 billion. This was up 6.4% from $43.5 billion at 31 December 2011.
During the period, $5.82 billion worth of housing loan approvals were written by the group, up from $5.57 billion. Mortgage Choice’s core business loan approvals were $5.09 billion, down slightly from $5.11 billion in 1H12.
Annual share of new home loans stood at 4.5%, on par with 1H12 and slightly down from 4.7% in 2H12. Mortgage Choice core business market share was 4.0%, down by 0.1% on 1H12.
A fully franked interim dividend of 6 cents per share was declared consistent with 1H12.
Property Review
