Financial performance
Mortgage Choice was listed on the Australian Stock Exchange in August 2004 (ASX sign: MOC). Key financial milestones for the 12-month period to 30 June 2009 are:
- Net profit after tax on a cash basis was $13.0 million and on an AIFRS basis was $26.8 million.
- Loan book stood at $36.03 billion at 30 June 2009, up 8.3% on the $33.27 billion balance in FY08, and ahead of system growth of 8.2%.
- Total revenue on a cash basis was $140.8 million and on an AIFRS basis, including a one-off adjustment of $58.6 million, was $192.9 million, up 19.5% on FY08 ($161.4 million).
- Earnings per share on an AIFRS basis stood at 22.6 cents per share compared to 16.4 cents per share in FY08.
- Generated $10.1 billion in housing loan approvals and continues to achieve industry-high productivity levels per broker. This result was down on the $11.0 billion in FY08.
- The Board has declared a final fully franked dividend of 5.5 cents per share taking the total dividends out of FY09 profits to 10.25 cents per share, which was down on FY08 (14 cents per share).
Cash received for trailing commission during the financial year was $85 million, which was up 3% on FY08.
- A total of 65.9% of residential commission revenues was paid to franchise owners compared to 64.6% in FY08.
- Net assets were $66.4 million, compared to $55.1 million in FY08.
Cash flow from operating activities during the year was $13.7 million compared to $17.0 million for FY08.