Euroz posts unaudited NPAT of $11.4m

Perth-based stockbrokers Euroz Ltd have posted an unaudited net profit after tax of $11.4 million for the period 1 July 2005 to 7 April 2006, representing a 24 per cent increase on 2005's audited annual NPAT of $9.2 million.

Euroz chairman Peter Diamond said the result had been achieved through strong results from all divisions of the company's main operating subsidiary, Euroz Securities, profit on investments and a small contribution from the newly formed Westoz Funds Management.

He said the directors were confident of continued profitability, but the level of profitability would be dependent on market sentiment and activity.

At 1130, shares in Euroz had increased 13 cents to $2.18.

Below is the edited ASX announcement:

In order to keep the market fully informed and as a result of strong market conditions, the Directors of Euroz Limited (EZL) are pleased to announce the following unaudited figures for 1 July 2005 to 7 April 2006.

Pre Tax Operating profit 16,639,205
Unrealised pre-tax profit on investments 114,596
Pre tax profit 16,753,801
Net Operating profit after tax 11,341,697
Net profit after tax on Unrealised Investments 80,217
Net profit after tax 11,421,914