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Growth and thrift salves at YBR

28 February 2017 5:08PM
Yellow Brick Road reported handsome growth in home loan settlements over its December 2016 half year, with the workload just enough to allow the group to scrape out a profit.This "maiden profit", to quote YBR, was partly thanks to "back to basics cost control. "Net profit for YBR over the half was A$400,000, compared with a loss of more than $4 million in the same period in 2015.The mortgage aggregator said that "apart from an anticipated drop in settlement volumes from Vow's flat fee lending product, all lending distribution channels - including other Vow lending - exceeded market growth.

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