05 August 2003 12:00am

A second, though much smaller, specialist home lender has reported an improved profit in the June 2003 half relative to December 2002. Mackay Permanent Building Society, based naturally in the regional Queensland city, reported:

• an increase in pre tax profit to $1.22 million at June 2003, up from $933,000 at December 2002, and $979,000 at June 2002.

• an increase in net profit to $860,000 at June 2003, up from $653,000 at December 2002 and $681,000 at June 2003.

• but a marginal increase in home loans, to $255 million at June 2003, up...