Big Lift For Mortgage Choice
The Age
Thursday August 24, 2006
SHARES in Mortgage Choice leapt 4 per cent after the finance broker reported a 43 per cent paper profit.
Adjusted to comply with new Australian equivalents to international financial reporting standards, Mortgage Choice reported a net profit of $17.9 million.The shares closed up 10? yesterday at $2.65.Under the previous standards, the broker's result would have increased 16 per cent to $14.8 million. Mortgage choice had said it expected profit to grow by about 10 per cent.The profit was almost evenly split between the first and second halves - $9 million in the six months to December 31 and $8.9 million to June 30. Shareholders registered on September 1 will received a 7.5? final dividend on September 18, bringing the full-year dividend to 14.5?, fully franked.Managing director Paul Lahiff said the company would be alert to acquisitions. -- MARC MONCRIEF
© 2006 The Age
