Euroz first half net profit plummets 90%

Perth-based stockbroker Euroz says it will pay shareholders an interim dividend as it posts an unaudited first half net profit of $1.6 million, down from $14.6 million from the same period last year.

In its first half report for the 2009 financial year, the firm said it will pay shareholders a one cent fully franked interim dividend, down from 3.5c paid in the previous corresponding period.

Net operating profit after tax from normal activities fell from $13.9 million to $6 million while a $4.4 million loss from equity accounting after tax for spin out broker Ozgrowth was reported.

"The directors are pleased with this result that was achieved in extremely difficult market conditions," Euroz said.

Shares in Euroz were up six cents to 76c at 11:19 AEDT.