01/07/2008 - 14:07

Euroz records 91% profit jump to $42m

01/07/2008 - 14:07

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Euroz Ltd has reported a jump of 91 per cent in its unaudited net profit after tax for the 2008 financial year but, as it usually does, has cautioned the market that continued profitability will be dependent on the market.

Euroz Ltd has reported a jump of 91 per cent in its unaudited net profit after tax for the 2008 financial year but, as it usually does, has cautioned the market that continued profitability will be dependent on the market.

The Perth stockbroker said net profit after tax jumped from $21.9 million achieved in FY07 to $41.9 million, with earnings per share climbing from 44 cents to 65 cents.

The directors have declared a fully franked dividend of 47 cents per share which brings its total full year fully franked dividend to 54 cents, up from 35 cents in the previous year.

Euroz said the result had been achieved through strong contributions from all divisions of the group.

Over the past financial year, Euroz Securities completed a record $1.4 billion in capital raisings and reached $7 billion in ASX turnover while its Westoz Investment Company subsidiary achieved a 77 per cent gross return.

Additionally the directors have proposed a 2-for-1 share split, with the resolution to be put to the annual general meeting.

 

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