Latitude Group Sees Remarkable Mid-Year Profit Growth

Latitude Group Holdings Ltd. (AU:LFS) has released an update.

Latitude Group Holdings Ltd. reports a significant increase in 1H24 profits, with a statutory profit after tax of $9.0m, rising by $101.4m from the previous year. The financial surge is attributed to a 14% year-on-year growth in volumes, reaching $4.1bn, and a net interest margin improvement to 10.1%. Despite the growth, the company will not declare a 1H24 dividend but anticipates continued expansion, supported by new partnerships and management’s strategic initiatives.

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