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Half Yearly Report/Accounts

Document date:  Thu 24 Apr 2003
Published:  Thu 24 Apr 2003 08:31:03
Document No:  203518
Document part:  F
Market Flag:  Y
Classification:  Half Yearly Report , Half Year Audit Review , Half Year Directors' Statement , Half Year Accounts , Dividend Record Date , Dividend Pay Date , Dividend Rate

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2003-04-24  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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FINANCIAL HIGHLIGHTS  

NET PROFIT       

                                         HALF YEAR  HALF YEAR   MOVT
                                         MAR 03     MAR 02      MAR 03
                                                                V
                                                                MAR 02
                                         $M         $M          %  

Net interest income                       2,140      1,965       9%
Other operating income                    1,352      1,409      -4%
Operating income                          3,492      3,374       3%
Operating expenses                       (1,602)    (1,330)     20%
Profit before debt provision              1,890      2,044      -8%
Provision for doubtful debts               (303)      (551)    -45%
Profit before income tax                  1,587      1,493       6%
Income tax expense                         (444)      (441)      1%
Outside equity interests                     (2)        (2)      -
Net profit attributable to members 
of the Company                            1,141      1,050       9% 

NET PROFIT RECONCILIATION

Profit excluding profit after tax from 
sale of businesses to joint venture 
NHB recovery and special general 
provision for doubtful debts              1,141      1,066       7%
Special general provision for doubtful 
debts after tax                               -       (175)     n/a
Recovery from NHB litigation after tax        -        159      n/a
Profit on sale of businesses to ING 
joint venture after tax                       -          -      n/a
Net profit attributable to members of 
the Company                               1,141      1,050       9%

PROFIT EXCLUDING PROFIT ON SALE OF BUSINESSES TO JOINT VENTURE, NHB
RECOVERY AND SPECIAL GENERAL PROVISION FOR DOUBTFUL DEBTS

Net interest income                       2,140      1,965       9%
Other operating income                    1,352      1,409      -4%
Operating income                          3,492      3,374       3%
Operating expenses                       (1,602)    (1,578)      2%
Profit before debt provision              1,890      1,796       5%
Provision for doubtful debts               (303)      (301)      1%
Profit before income tax                  1,587      1,495       6%
Income tax expense                         (444)      (427)      4%
Outside equity interests                     (2)        (2)      -
Net profit adjusted for significant 
transactions                              1,141      1,066       7% 


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