Hire Intelligence's higher profit

Jolimont-based short term computer rental group, Hire Intelligence International has announced a profit upgrade and improved fully franked dividend prospects for its shareholders.

Earnings before interest, tax and amortisation (EBIT) for the 2009 fiscal year are now expected to be between $2.1 and $2.9 million as compared to initial forecasts of between $1.8 and $2.7 million.

HII anticipates interest earnings of $400,000 during FY2008 with profit expected to be between $2.5 and $3.3 million.

The company is currently pursuing legal action against one of its franchisees for a breach of contract, the result of which the company is confident about, and has included legals costs in these figures, thereforeHII's profit upgrade would have been higher if not for this action.

The board expects to declare a fully franked dividend of between 2.2 and 3 cents per share.