Judo says underlying margins are expanding, and it’s on track to achieve full-year targets as an impairment charge drags on its first-half earnings.
Small business lender Judo is confident of “modestly exceeding” revenue and profit forecasts, after delivering a first-half loss due to a non-recurring impairment charge related to its initial public offering.
Judo said its interim pro forma profit before tax was $3 million, from a $700,000 loss in the corresponding period the year before. Its headline loss was $16.1 million, down from a $1.9 million profit in the first half of 2021, “due to one-off costs associated with the IPO”.Judo’s total lending portfolio rose 37.8 per cent to $4.
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