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HomeStart Finance (HomeStart)

Financial statistics
Loans and advances: $1.8 billion
   
Short-term borrowings: $241 million
Long-term borrowings: $1.5 billion
   
Profit before income tax: $17 million
   
Dividends paid: $27.1 million
   
Number of FTEs: 93.6
   
Number of loans outstanding at 30 June: 12 957

Significant events and transactions
  • An interim dividend of $20 million was approved in October 2015, and paid in June 2016, from retained earnings, following a recommendation by the HomeStart Board and approval by the Minister for Housing and Urban Development and the Treasurer. This dividend represents a return of capital to the SA Government after an assessment of HomeStart’s ongoing capital requirements.
  • A further dividend of $7.1 million, relating to HomeStart’s operating profit for the year, was paid in June 2016 following a recommendation from the Board and approval by the Minister and Treasurer.

Financial statement opinion
Unmodified