Latitude Group lifts H1 profit 39% to $64M
- Cash NPAT increased 39% year-on-year to $64.3 million for the first half of 2026.
- The Latitude share price closed higher at $0.94 following the financial results release.
- The company stated that disciplined cost control and higher receivables drove earnings growth.
Latitude Group (ASX:LFS) reported a cash net profit after tax of $64.3 million for the half year ended June 30, marking a 39% increase compared to the previous corresponding period.
The profit growth occurred despite a more challenging operating environment that included three cash rate increases by the Reserve Bank of Australia.
Statutory net profit after tax from continuing operations increased 37% to $54.4 million. Cash operating expenses decreased 2% to $181 million.
"Continued demand for our products drove total credit card purchase and new loan origination volumes to $4.4 billion, lifting gross receivables to $7.3 billion, their highest level in six years," said Latitude Managing Director and CEO Bob Belan.
Operating income grew 7% to $437.8 million while total new credit card and loan volumes expanded 4% to reach $4.4 billion.
Following the announcement, the Latitude share price was up at $0.94.
The company’s board declared a fully franked interim dividend of 5.50 cents per share.
While discretionary spending and lending demand may moderate, Latitude expects to continue to deliver profitable receivables growth, supported by its diversified business model, differentiated products and broad partner and distribution network.
The consumer finance business operates across Australia and New Zealand with a history spanning more than a century.
