Preliminary Final Report & On-Market Buy-Back

Document date:  Wed 03 Nov 1999
Published:  Wed 03 Nov 1999 00:00:00
Document No:  154638
Document part:  K
Market Flag:  Y
Classification:  

HOMEX - Melbourne                                                     

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CHIEF FINANCIAL OFFICER'S REVIEW (continued)

GEOGRAPHIC SEGMENT PERFORMANCE

Operating profit after tax before abnormals 

                                                                Movt
                                Contribution                  Sep 99
                         1999      to profit     1998      v. Sep 98 
                           $M              %       $M              %
Domestic Markets
 Australia               1,042       70%          819           27%
 New Zealand               200       14%          167           20%
                         1,242       84%          986           26%
Overseas Markets           238       16%          189           26%
                         1,480      100%        1,175           26%

DOMESTIC MARKETS

                                  1999         1998         Movt
                                    $M           $M            %

Net interest income              2,924        2,750           6%
Fee income                       1,428        1,244          15%
Other operating income             379          497         -24%
Net operating income             4,731        4,491           5%
Operating expenses              (2,630)      (2,799)         -6%
Operating profit before debt 
provisions                       2,101        1,692          24% 
Provision for doubtful debts      (317)        (304)          4%
Income tax expense                (542)        (402)         35%
Operating profit after income 
tax before abnormal items        1,242          986          26%
Net abnormal loss after tax          -          (11)         n/a
Operating profit after income 
tax and abnormal items           1,242          975          27%
Net interest average margin      3.09%        3.23%          n/a
Return on ordinary book equity 
(before abnormals)               19.3%        17.6%          n/a
Operating profit after tax 
as a % of average risk 
weighted assets (before 
abnormals)                        1.4%         1.2%          n/a
Operating expenses to net 
operating income                 55.4%        62.3%          n/a
Operating expenses to 
average assets                    2.2%         2.6%          n/a
Net specific provision as a %
of average net advances           0.2%         0.2%          n/a
Net non-accrual loans              375          644         -42%
Net non-accrual loans as a % 
of net advances                   0.4%         0.7%          n/a
Employees (FTE) - Permanent     20,197       21,668          -7%
Employees (FTE) - Temporary      1,240          982          26%
Total employees                 21,437       22,650          -5%
Lending growth (including 
FX impact)                       10.8%        11.7%          n/a
Total assets                   123,487      114,349           8%
Risk weighted assets            94,008       88,829           6%

MORE TO FOLLOW


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