MyState records $11m profit

MyState Limited has posted a $14.8 million-profit for the last half of 2013.

It is a 2 per cent increase of the first six months of 2013 for MyState Limited - which owns Tasmania's MyState Financial.

MyState Financial recording a net profit (after tax) of $11.3 million.

The bank also revealed this morning that its earnings per share increased 1.7 per cent to 17 cents.

MyState Limited also runs The Rock, based in Rockhampton, which recorded a $1.4 million profit.

Results summary for the half year ended:

Group revenue: $60.6 million

Net profit after tax: $14.8 million

Earnings per share: 17 cents

Return on equity: 10.6 per cent

Dividend per share – fully franked: 14 cents

Dividend payout ratio: 82.2 per cent

Net interest margin:  2.57 per cent

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