By Amber Plum
For the twelve months to June 30, net profit after tax attributable to members from continuing operations, fell 11. 6 per cent to $54. 97 million. It was impacted by $1. 4m in one-off tax costs linked to fringe benefit tax changes and reduced revenues in novated leasing operations, which arranges for businesses to lease vehicles on behalf of employees.
Finance group McMillan Shakespeare has posted a fall in annual net profit, while saying it has “fully recovered” from the impact of novated leasing benefit changes proposed in July 2013.
Read more here: Business Spectator