Euroz books $10.3m FY profit

Euroz has recorded a 75 per cent drop in full-year net profit for fiscal 2009, a good result given the economic climate, the stockbroking firm says.

In its unaudited annual result released today the firm reported a $10.3 million net profit or eight cents per share (cps), down from $41.9 million, or 32.5cps, posted the previous financial year.

The directors have also declared a final fully franked dividend of 6.5 cents for each share, taking the total dividend to 7.5c.

"The directors are particularly pleased with this excellent result despite difficult market conditions," Euroz said in the report.

"Markets have improved since the first half of the year and consequently this has improved business conditions in all divisions of the company."

Westoz Funds Management and Ozgrowth are also under the Euroz umbrella.