Preliminary Final Report

Document date:  Wed 04 Nov 1998
Published:  Wed 04 Nov 1998 00:00:00
Document No:  142712
Document part:  L
Market Flag:  Y
Classification:  

HOMEX - Melbourne                                                     

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PROFIT AND LOSS ACCOUNT
                        Full     Full      Movt       Half      Half
                        year     year     Sep 98      year      year
                 Page  Sep 98   Sep 97   v. Sep 97   Sep 98    Mar 98
                 Ref    $M        $M        %          $M        $M

Total income     29   11,528   11,710      -2%       5,659     5,869
Interest income        9,499    9,455       0%       4,758     4,741
Interest expense      (5,952)  (6,018)     -1%      (2,984)   (2,968) 
Net interest 
income                 3,547    3,437       3%       1,774     1,773

Other operating 
income           29    2,099    2,110      -1%         971     1,128
Total net 
operating income       5,646    5,547       2%       2,745     2,901

Operating 
expenses         30   (3,438)  (3,502)     -2%      (1,701)   (1,737)
Operating profit 
before debt provisions 2,208    2,045       8%       1,044     1,164

Provision for 
doubtful debts          (487)    (400)     22%        (250)     (237)
Operating profit 
before abnormal items  1,721    1,645       5%         794       927
Abnormal loss    31     (102)    (182)    -44%        (102)        -

Operating profit 
before tax             1,619    1,463      11%         692       927

Income tax (expense) benefit
Operating profit        (537)    (466)     15%        (239)     (298)
Abnormal loss    31       33       35      -6%          33         - 

Income tax 
expense          32     (504)    (431)     17%        (206)     (298) 

Operating profit 
after income tax       1,115    1,032       8%         486       629

Outside equity 
interests                 (9)      (8)     13%          (5)       (4)

Operating profit after income tax
attributable  to members of the
Company                1,106    1,024       8%         481       625

Retained profits at 
Total available for 
appropriation          2,936    2,607      13%       2,839     2,455

Transfers from (to) 
reserves                 223      (82)     n/a         (24)      247

Dividends provided 
for or paid     33      (747)    (695)      7%        (403)     (344) 

Retained profits at 
end of period          2,412    1,830      32%       2,412     2,358

BALANCE SHEET
                                                                Movt
                                 As at    As at      As at     Sep 98
                        Page    Sep 98   Mar 98     Sep 97   v Sep 97
                        Ref       $M       $M         $M         %

Assets

Liquid assets                   7,527    10,530      6,974       8%
Due from other financial 
institutions                    4,158     5,739     10,912     -62% 
Trading securities              5,973     8,021      7,266     -18%
Investment securities    34     3,979     3,422      3,139      27%
Net loans and advances   34    94,457    88,434     83,741      13%
Customers' liability 
for acceptances                15,648    16,022     14,040      11%
Regulatory deposits             1,530     1,284      1,206      27%
Shares in associates               11         4          7      57% 
Other assets                   14,925    12,630      9,312      60%
Premises and equipment          1,512     1,595      1,644      -8%

Total assets                  149,720   147,681    138,241       8%

Liabilities

Due to other financial 
institutions                   10,758     8,732     10,874      -1%
Deposits and other borrowings  94,599    95,426     89,152       6%
Liability for acceptances      15,648    16,022     14,040      11%
Income tax liability              914       976        778      17%
Creditors and other 
liabilities                    14,009    13,218      9,807      43%
Provisions                        987     1,099      1,218     -19%
Bonds and notes                   666     1,339      1,990     -67%
Loan capital                    3,748     3,481      3,389      11%

Total liabilities             141,329   140,293    131,248       8%

Net assets                      8,391     7,388      6,993      20%

Shareholders' equity

Ordinary share capital          4,581     4,455      4,335       6%
Preference share capital          645         -          -      n/a 
Reserves                          697       527        778     -10%
Retained profits                2,412     2,358      1,830      32%

Share capital and reserves attributable
to members of the Company       8,335     7,340      6,943      20%
Outside equity interests           56        48         50      12% 

Total shareholders' equity and
outside equity interests        8,391     7,388      6,993      20%

Derivative financial
instruments              48
Contingent liabilities   53


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