RHG considers market return
By
Andrea Cornish
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26/07/2010 5:00:00 AM
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An unexpected tax windfall has RHG Limited considering a re-entry to the home loan market.
The company, which sold the RAMS Home Loans brand and distribution platform to Westpac at the beginning of the economic crisis, received a $21.2 m tax refund bumping its full-year earnings guidance to between $86m and $96m.
RHG Ltd signed an agreement not to re-enter the home loan market until next year, but as the expiry date nears it is considering whether to use its reported cash reserves of $390m to jump back in again, according to the Sydney Morning Herald.
RHG chairman John Kinghorn told members at last year’s AFG conference that the company was considering whether to return to mortgage lending or give investors a capital return.
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