Revenue ($m) 225,2 down 6.4pc from year-earlier 240.7
Pretax profit ($m) 56.5 v 43.4
Net profit ($m) 38.y6 v 33.3
No interim dividend
Humm Group confirmed it will expand into Canada and the United Kingdom, a move that will depress second-half profit as it invests to chase growth as buy now, pay later takes off globally. Its shares plunged 16 per cent on the news.
Humm, formerly Flexigroup, said its first-half cash profit rose 26 per cent to $43.4 million from the year-earlier period, driven higher by its credit card and SME financing businesses.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
