Full Year 2020 Australian Finance Group Ltd Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the investor briefing for AFG 2020 Full Year Results. (Operator Instructions)
I'd now like to hand the conference over to your first speaker today, CEO, David Bailey. Thank you. Please go ahead.
Thank you, and good morning, everyone. With me is Ben Jenkins, our CFO, and you'll hear from Ben very, very shortly.
AFG is very pleased and proud to announce a profit result of $38.1 million, which is up 15% on the prior financial year. Probably most importantly for me is the underlying NPAT, which is reflecting the cash earnings of the business spinning out of the trail book, and that's up 27% to $36.3 million. The result was underpinned by residential settlements, which were up 9% to $34.1 billion. And the other part was AFG Home Loans, which now looks after over 25,000 retail customers.
This AFG Securities book, which is another platform of our earnings growth, experienced a very strong year with settlements up by 28% to
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