Business Services Industry
AUSTRALIA'S HERITAGE BUILDING SOCIETY POSTS STRONG GROWTH.
AsiaPulse News, February, 2003
BRISBANE, Feb 10 Asia Pulse - Heritage Building Society is hoping to book a higher annual profit in 2002/03 as its robust growth continues.
The Toowoomba-based Heritage today booked a slight 2.9 per cent fall in half year net profit to $A4.235 million ($US2.5 million) in the six months to December 31, 2002.
Chief executive officer Fraser Read-Smith said total member value was up 23.3 per cent at $A15.7 million ($US9.25 million), while additional member value rose 37 per cent to an $A11.469 million ($US6.76 million).
The unlisted mutual society was not a profit-maximiser aimed at creating shareholder wealth but focused on its members' benefits.
"We're expecting to announce a good result for the overall year, it'll be a better year than...
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