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Mortgage Choice FY profit slumps 80%

AAP  |  22 Aug 2018Text size  Decrease  Increase  |  
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Mortgage Choice's (ASX: MOC) full-year profit has slumped 80.9 per cent to $4.24 million after the home loan broker was forced to overhaul its remuneration structure following unrest from franchisees.

Commission for new loans for the 12 months to June 30 was down 7.7 per cent to $70 million, while financial planning income was up 11 per cent to $11.3 million.

Mortgage Choice will pay a fully franked final dividend of nine cents a share, unchanged from a year earlier.

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© 2021 Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

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