Despite the difficult business environment particularly for finance companies, Matrix's results for its fifth year of operations to 31/3/08 have been quite satisfactory. The Company is pleased to report that it continued to retain the confidence of its investors despite many finance company failures during the year.
Reinvestment of deposits over the year averaged over 65% which is indicative of the excellent support Matrix received from its investors.
The following were the financial highlights of the year:
- Operating income increase of approx 17%
- Asset portfolio growth of 5%
- Matrix deposit levels remained at 2007 levels
- Matrix Equity Ratio at 40 % is one of the strongest in the industry.
The Company has now adopted the NZIFRS standards in its financial reporting; as a result whilst the 2007 figures have been reconfigured to provide appropriate comparisons, the other three years figures may not reflect a direct comparison.
Matrix Mortgages remains confident of continuing its prudent policies to ensure that growth is achieved based on sound prudential lending guidelines.
The following graphs provide an indication of the Company’s growth over the last five years.
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