FirstFolio remains expansive
Publicly listed mortgage and financial services distribution group Firstfolio has indicated that it remains on the expansion trail, after announcing to the Australian Securities Exchange (ASX) that it expects operating earnings of between $15 million and $16 million for the 2011 financial year.
Firstfolio said the earnings guidance included the first full year of expected contributions from its acquisition of First Chartered Capital Corporation, Loan Services Australia, Xplore Capital and LeaseChoice together with the more recent acquisition of Apple Group.
Firstfolio chief executive Mark Forsyth said the company believed its prospects within the mortgage and financial services markets remained robust.
“We have only started to scratch the surface of product expansion with the launch of eChoiceInsurance.com.au and the acquisition of our leasing arm, LeaseChoice,” he said.
Forsyth said that the company’s recently announced LJ Hooker joint financial services agreement and similar potential market partnerships would provide further momentum.
AUTHOR
Mike Taylor
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