Equity Trustees upgrades profit forecast
Peter Williams
Equity Trustees has forecast a 66 per cent increase in net operating profit for the current financial year.
In an announcement released today, the board said it expected its operating profit before tax to be around $11 million — around 66 per cent higher than the previous financial year and a distinct lift over the company’s December 2006 projection of $9.5 million.
Equity Trustees managing director Peter Williams said the forecast result reflected strong performance across the company’s business units.
“This has been an exciting period for the company, with our Queensland office opening at the end of 2006 and the recent announcement of our intended acquisition of the Freedom of Choice master-trust and IDPS,” he said.
Williams said it was the company’s intention to continue to grow the business.
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