Australian Finance Group’s (ASX: AFG) Q4FY24 mortgage finance lodgement volumes highest since Q2FY22.

Fri 16 Aug 24, 05:56 AM | Team Kalkine

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Highlights

Australian Finance Group Limited (ASX: AFG) is engaged in mortgage origination and lending business. It manages its business from two segments: Aggregation and AFG Home Loans (AFGHL).

In H1FY24, AFG's total revenue rose by 8.33% year-on-year to AUD 569 million, up from AUD 525.2 million in the previous corresponding period (pcp). This revenue growth was bolstered by increased securitisation interest income and higher commissions. However, despite the positive revenue performance, the company's net profit after tax (NPAT) fell by nearly 34% compared to the same period last year, dropping to AUD 14.5 million from AUD 21.9 million. This decline in NPAT was primarily attributed to higher interest rates.

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