Euroz lifts half-year net profit by $2.7m

Perth-based stockbroking firm Euroz has lodged a net profit of $12.3 million for the six months ended December 31, up around $2.7 million on the previous corresponding half-year.

Euroz released the figures today, with the $12.3 million net profit a solid increase on the $9.6 million net profit reported for the first half of the 2012-13 financial year.

Chairman Andrew McKenzie said continued volatility across world markets as well as subdued commodity prices had negatively impacted Euroz Securities’ daily ASX turnover, but that was offset by improvement in corporate equity capital markets transactions.

“Our future pipeline of corporate opportunities is potentially the best it has looked for some time,” Mr McKenzie said in a statement.

Euroz will pay a fully franked interim dividend of 1.75 cents per share.

“We have remained deliberately patient through the difficult markets of the past few years, but our directors believe that we are closer to improved commodity and resource related markets and are confident that our strong market position and solid balance sheet will again provide excellent leverage to shareholders in the future,” Mr McKenzie said.

At 1:15PM, WST, Euroz stocks were steady at $1.21.