RHG finds extra $20m
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BN
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22/07/2010 5:00:00 AM
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RHG Home Loans will report a higher profit than expected for the 2010 financial year.
The listed home loan group, previously known as RAMS Mortgage Corporation, originally advised the market it would see a net operating profit after tax of between $65m and $75m.
However, in an announcement to the Australian Stock Exchange yesterday, the group said due to a contingent income tax asset, that profit would now be between $86m and $96m.
RHG received an amount of $21.2m from the Australian Taxation Office in regards to the contingent income tax asset, and plans to add this to its 2010 bottom line.
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