Austock said its revenue for the last financial year was $40 million, a fall of 43.3 per cent from the prior year.
Its underlying loss before tax was $1.3 million, representing a decline from an underlying profit of $11.1 million previously.
The focus on the business now will be on established businesses, according to Austock managing director Tim Boyle.
"Austock will deepen its presence in core businesses and will enter 2010 with a leaner, cleaner and simpler model," he said.
Revenue from its annuity businesses remained steady at $10.9 million, representing 27 per cent of total revenue.
The business minimised its costs through voluntary salary decreases and staff cuts.
This year the firm has already divested two businesses including Austock Asset Management and Australia Pacific Exchange. The Austock property fund API was wound up during the year.
"The coming year will see Austock aggressively and selectively pursue revenue opportunities," Boyle said.
He said the key areas the company will focus on will be corporate finance, property and life insurance.
Despite the winding up of one of the Austock property funds, the firm announced that it is now positioned to explore more acquisitions in the Australian market.
