Centuria Capital Group · ASX:CNI
Centuria Capital — Over Fifty Group — H1 2008 Earnings Presentation
16 slides from Centuria Capital's earnings presentation, Feb 22, 2008
Slide 1: Results Briefing – Half Year to 31 December 2007
RESULTS BRIEFING – HALF YEAR TO 31 DECEMBER 2007 John McBain Acting Chief Executive Officer & Terry Reid Chief Financial Officer/Company Secretary 22 February 2008
Slide 2: Agenda
AGENDA • Corporate Update • Composition of Board • Chief Financial Officer • Operational highlights during period • Summary of financial performance • Review of Profit & Loss and Balance Sheet • Outlook 2
Slide 3: Corporate Update
CORPORATE UPDATE • At the last AGM on 28 November 2007 shareholders voted to appoint four new directors • On 10 December 2007, Mr Terry Reid was appointed Company Secretary • On 4 February 2008, existing director John McBain was appointed acting CEO • The Board now comprises six directors including
Slide 4: Composition of Board
COMPOSITION OF BOARD A majority of the board have been recently appointed and the following brief biographies are supplied to ensure our shareholders, members and the public are fully informed. • Roger Dobson (Chairman and Non-Executive Director) – Appointed 28/11/07 Age: 48 Education: LLB (Hons) (A
Slide 5: Composition of Board (cont).
COMPOSITION OF BOARD (cont). • Peter John Done (Non – Executive Director) – Appointed 28/11/07 Age: 59 Education: BComm (Accounting), (UNSW), Fellow of the Institute of Chartered Accountants Peter was a partner of KPMG for 26 years until he retired in 2006. During this period Peter was Partner in Ch
Slide 6: Composition of Board (cont).
COMPOSITION OF BOARD (cont). • Deepak Gupta (Non-Executive Director) – Appointed 28/11/07 Age: 45 Education: BComm and Administration (Victoria University, Wellington), MBA (Massey, NZ) Deepak has almost 20 years’ experience in the financial services and investment management. He joined Trustees Exe
Slide 7: Chief Financial Officer/Company Secretary
CHIEF FINANCIAL OFFICER/ COMPANY SECRETARY • Terry Reid - Chief Financial Officer/Company Secretary Education: Dip Bus Studies (Acc), CA, Fdn. FPA Terry has worked with the Company for 14 years and is thoroughly committed to the business. Terry was appointed Company Secretary effective 10 December 2
Slide 8: Operational Highlights Within Period
OPERATIONAL HIGHLIGHTS WITHIN PERIOD Funds Under Management Funds under management and administration as at 1 December 2007 were $1.776 billion. The Board and Senior Management look forward to steadily growing the funds under management. Friendly Society • As at 31 December 2007, OFG administered $9
Slide 9: Operational Highlights Within Period (cont).
OPERATIONAL HIGHLIGHTS WITHIN PERIOD (cont). Mortgage Businesses • The Reverse Mortgage division loan portfolio grew by $34M to $154M as at 31/12/07 and the “white label” reverse mortgage distribution arrangement with a major Australian bank was rolled out nationally. • 50% subsidiary Mortgageport p
Slide 10: Summary of Financial Performance
SUMMARY OF FINANCIAL PERFORMANCE • NPAT for the 6 months to 31 December 2007, was $3.5M after one-off expenses and non-recurring specific provisions totalling $2.54M. (NPAT 6 months to 31/06/06 was $3.0M) • Normalised NPAT after adjusting for these is $5.4M • Components of One-Off Expenses & Non-Rec
Slide 11: Segmental Results
SEGMENTAL RESULTS (excluding Friendly Society Benefit Funds) 1/07/2007 to 1/7/06 to One-off Items Adjusted 31/12/07 31/12/06 % Change 2007 2007 $m $m $m $m Revenue Property Asset Sales & Revaluations 0.0 2.0 Property Funds Management 7.6 7.4 2% 7.6 7.6 9.4 -19% 7.6 Reverse Mortgages 6.5 3.1 110% 6.5
Slide 12: Segmental Results
SEGMENTAL RESULTS (excluding Friendly Society Benefit Funds) Half Year Half Year Ended Ended One-off Items Adjusted 31/12/07 31/12/06 % Change 2007 2007 $M $M $M $M Profit & Loss Interest & Dividends 8.0 4.8 65% 8.0 Management Fees 12.2 12.1 1% 12.2 Rental Income 1.1 1.9 -39% 1.1 Total Revenue 21.3
Slide 13: Balance Sheet
BALANCE SHEET (excluding Friendly Society Benefit Funds) As at As at 31-Dec-07 30-Jun-07 $M $M Current Assets Cash & cash equivalents 11.8 13.8 Trade & other receivables 14.3 7.6 Other financial assets 19.8 22.6 Other current assets 1.1 0.9 47.0 44.9 Non-Current Assets Other financial assets 158.0 1
Slide 14: Balance Sheet
BALANCE SHEET (excluding Friendly Society Benefit Funds) As at As at 31-Dec-07 30-Jun-07 $M $M Current Liabilities Trade & other payables 6.5 7.1 Income tax payable 4.6 2.4 Interest-bearing liabilities 14.8 12.8 Provisions 0.1 0.5 26.0 22.8 Non-Current Liabilities Interest-bearing liabilities 167.4
Slide 15: Outlook
OUTLOOK • The new Board has been in place 70 days and is undertaking an in-depth, “hands –on” and highly commercial review of all business units. • There is a major focus on delivering efficiencies within the Group’s core activities which will lead to increased profitability and recognition as a tru
Slide 16: Disclaimer
DISCLAIMER • This document has been issued by Over Fifty Group Limited ABN 22 095 454 336 and contains general information about Over Fifty Group Limited and its related bodies corporate (Over Fifty Group) which is current as at 22 February 2008. • The information in this document is in summary form