Financial services firm Investorfirst will look to close a number of acquisition opportunities and leverage off existing business relationships as part of a push to build its operational revenue.
Investorfirst remains cautiously optimistic in its outlook for the next 18 to 24 months, chairman Otto Buttula told the market yesterday.
“The primary focus of our strategic plan for FY 2010 is to strongly build our revenues,” Buttula said.
The firm intends to expand its operations through a number of strategic initiatives, he said.
“This will be achieved by successfully closing targeted acquisitions, recruiting higher yielding personnel, and establishing wholesale broking service relationships leveraging from our several strong, long-term business relationships garnered by our executives and board and through our highly scalable platform,” Buttula said.
“The board, management and staff of Investorfirst are committed to successfully growing the company and moving it towards a consistently profitable business model, growing both variable and ongoing annuity revenues.”
Earlier this year, Investorfirst recorded a full-year loss of $2.01 million.
Despite recording a loss, the drop represents a 44 per cent improvement on Investorfirst’s previous loss of $3.65 million in the prior year, when it was known as stockbroking firm Findlay Securities.
One of the key reasons for the $2.01 million loss was the termination of business activities and the winding down of corporate activities for Findlay & Co Stockbrokers in January this year, the firm’s annual report said.
