Grant Woolford & Geoff Kenny re-elected as shareholder directors of MTF Finance

At the meeting, Chair of MTF Finance Mark Darrow, reflected on the step-change of the business over the 2023 Financial Year.

Says Darrow, “FY23 showed a stellar record result that has proven the strategic path for the business has been extremely successful for customers, originators and shareholders.

Reaching $1billion in lending assets is a landmark result that provides important scale for MTF Finance and puts us near the top of non-bank lenders in New Zealand. Sales year on year increased a stunning 40%. This ultimately helps more New Zealanders with easier access to finance. “

Adds Darrow, “The strategic direction has been driven by a committed and hardworking Board, and to have our shareholders reconfirm two Directors recognises the delivery record of the directions.”

Prior to the AGM, the Board resolved to increase the current dividend reinvestment strike price for ordinary shares from $2.50 to $3.84. This increase in price is another marker of the recent success the company is having and a direct reflection of strong business performance and the increasing scale of the business.

Says CEO Chris Lamers, “The increase value of the business comes after a period of sustained growth. And we are confident MTF Finance is well place to continue this growth in coming years.

“Change often happens at a crossroads, or a confluence of events, and I believe we are at one of those moments in time. This is why we are evolving MTF Finance and our network to meet the changing needs of customers.”

Lamers adds, “Particularly during a global cost of living crisis, putting customers at the forefront of lending is crucial. To provide top-tier financial services and enhance customers’ experience of the brand, the Board is committed to investing in new technology and product options to make lending about people”.

“Over the past 12 months we have maintained a focus on helping New Zealanders and have invested more in new locally owned and operated branches and additional staff in communities – a very different approach from what the rest of the sector is doing. “

MTF Finance have opened two community hubs with AMI Insurance (Hornby and Mt Eden), added four branches and 10 percent additional frontline staff. At the same time it has launched home loan brokering which will be progressively rolled out across the network of locally owned and operated stores.

About Grant Woolford

With more than 30 years’ experience in the motorcycle industry, Mr Woolford has worked his way up from apprentice to grassroots business owner focused on growth and delivering strong results.

Woolford has impressed with his commitment to governance and advancing the strategic plan of the company. He has been an MTF Finance Board member since 2018, is managing director of the Cyclespot Group, as well as holding the Board roles at the Motor Trade Association (MTA), where he chairs the Finance & Risk Committee, and AUXO.

About Geoff Kenny

With more than 30 years of experience in the motor vehicle and finance industries, Geoff has a robust understanding of New Zealand business. This is Kenny’s fifth appointment to the MTF Finance Board and as a seasoned franchise owner he has a deep understanding and respect for the company’s business model, its history and customers. Representing a point of view from the day-to-day operations of the business, Kenny has been involved in the introduction of new products, company growth and increased profits.

Darrow adds, “The MTF Finance Board, management and staff would like to congratulate Grant and Geoff on their re-election and look forward to continuing to work together to progress the future strategy and direction of the company.”