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Mortgage Choice has forecast it will end the financial year with double-digit profit growth and revenues exceeding $160 million.
The group released earnings guidance for 2013/2014 which forecast a 16.5 per cent year-on-year rise in underlying net profit after tax and a 25 per cent jump in the headline result.
This suggests Mortgage Choice will post an $18.4 million underlying profit and a $19.8 million headline profit. The difference between the two figures follows the August sale of mortgage aggregator LoanKit to Finsure.
Mortgage Choice posted a $15.8 million net profit in 2012/2013.
This week’s earnings guidance has also forecast 11 per cent growth in group revenue, which would mean a rise from $156.5 million to $173.7 million.
Mortgage Choice said “the continued strength in housing demand” had helped drive the forecast increase in profit and revenue.
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