Harmoney shares slump as profits fall

Investment

2 mins to read

Key points

Reported profit: A$700,000 cash after tax. Down 85%
Loan book: Increased 2% to A$758m
Main takeaway: Growth stalled as consumers retreated from the market, but there are big hopes for the new platform to drive growth.

Shares in New Zealand founded and ASX listed non-bank lender Harmoney slumped by as much as 19% today after the company announced lower full year profits.

The shares were as low at A40 cents (43c) in mid-morning trade on the ASX before rebounding to A45c, valuing the company at A$45.8 million

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Lachlan Colquhoun Fri, 23 Aug 2024

Contact the Writer: lachlan@nbr.co.nz

News tip? Question? Typo? Let us know: editor@nbr.co.nz

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