Homeloans upgrades FY profit to $7m

Perth-based mortgage provider Homeloans says it expects its 2009 financial year net profit to improve by 49 per cent on the previous corresponding period.

"The Company expects to achieve Net Profit After Tax of between $ 6.5m and $ 7.0m, up from the comparable Net Profit after Tax result (before significant items) for the previous corresponding period of $ 4.7m," Homeloans said in a statement.

Shares in Homeloans closed down one cent to 46c today.