2007 profit and dividend, page-52

Well then why is it being reported like this.

Rams Home Loans FY07 net profit $15.11m
09:28, Tuesday, August 28, 2007

Sydney - Tuesday - August 28: (RWE Aust Business News) - Rams
Home Loans Group Ltd (ASX:RHG) reported a net profit of $$15.11 million
for the year to June 30 2007, its first as a listed entity, compared with
$29.97m in FY06.
Revenue was $849.06m against $846.89m.
Earnings per share was 53.9c versus $1.228.

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Debt issues
As announced to the ASX on 16th August 2007RAMS was unable to
effect rollovers on two XCP programs totalling $6.17 billion and as a
result these programs have been extended.
The effect of this extension is that RAMS has a 180-day period
in which to refinance these programs. During this refinancing period the
interest rate payable by RAMS will be fixed at LIBOR plus25bps.
The directors anticipate that this increase in the cost of
funding will have a material negative impact on the company's
published FY08 forecast.
The full extent of this effect will only be known when the
refinancing has been completed, the result of which will depend on market
conditions at the time.
The directors will continue to monitor the impact on RAMS funding
programs and will keep the market informed of any developments.

*****
Result
"As expected RAMS met its FY07 prospectus forecast," chief
executive Greg Kolivos said.
"Pro-forma net profit was up 49pc on FY06 to $43.5m.
"In a competitive mortgage market, RAMS settlements grew 46pc on
FY06 - resulting in a total loan book of $13.7bn at 30 June 2007.
"RAMS continues, in the mean time, to monitor the likely
impact of events in debt capital markets on FY08 performance."
The average loan book for the 12 months was $11.8 billion, 32pc
higher than FY06.
Total new business settlement growth for the 12 months to June
2007 of 46pc was as a result of growth in broker channel settlements of
57pc versus the prior year and growth of 26pc from the franchise channel.
The broker channel growth achieved was due to the continued
penetration of the broker market, both in terms of the absolute number of
mortgage brokers selling RAMS product offerings coupled with an increased
frequency of usage.
The Franchise channel growth achieved was principally due to the
maturing of franchise businesses already in operation, as they penetrate
their respective territories through the opening of RAMS retail stores.
Rams shares were last traded at $1.16.
ENDS

Copyright © 2007 RWE Australian Business News. All rights reserved.