WHK Group net profit sprung 15 per cent to a record $12.39 million for the half-year ended 31 December 2006 compared to the corresponding 2005 period, boosted by growth in financial services.
Operating revenue swelled by 19 per cent to $148.45 million and cash earnings grew by 8 per cent to $12.76 million.
The strongest growth was in the group’s financial services segment. Revenue jumped by 20 per cent to $38.61 million and funds under advice climbed by 12 per cent to $7.53 billion.
One independent financial planning practice and the advisory operations of the group’s 20 accounting firms make up the financial services division.
“The directors regard self-managed super funds (SMSF) as an outstanding growth opportunity for the group for at least the next 10 years given the ability of member firms to provide a complete range of accounting, tax, compliance, audit, financial and investment advice and services to individually managed super funds,” managing director Kevin White said.
Specialist teams have been set up in each of the member firms to streamline referrals to financial planning and risk insurance advisers.
At December 31 the group administers 8230 SMSF. SMSF revenue rose 16 per cent to $5.68 million for the half-year ended 31 December 2006.
The group declared an interim dividend of 2.5 cents per share, up 15 per cent from the previous year of 2.17 cents.
