Mortgage Choice Limited has seen a 17 per cent increase in net profit after tax (NPAT) for the six months ended 31 December 2012, despite the subdued housing credit market.
Group NPAT reached $7.5 million, up from $6.4 million in the first half of the year. Total group revenue also jumped 3.3 per cent to $74.2 million over the period.
Total loans written by the franchise network's mortgage brokers and its aggregation arm, LoanKit, reached $46.3 billion, up by 6.4 per cent from $43.5 billion at 31 December 2011.
Mortgage Choice has continued to invest in its diversified businesses: comparison website HelpMeChoose.com.au, aggregator LoanKit, and the new Mortgage Choice Financial Planning business.
"We have successfully executed the business build process and soft launch for Mortgage Choice Financial Planning," said group chief executive Michael Russell.
"Today, the business is operational with four franchises on board and a strong recruitment pipeline. We stand ready for our consumer campaign launch early in the new financial year," he said.
Mortgage Choice also reaffirmed its August 2012 guidance, with cash NPAT for the 2013 financial year expected to be in line with the 2012 financial year and with the full-year dividend maintained at 13 cents.
"We expect an increase in marketing spend in the second half of this financial year due to the launch of our new consumer campaign," Mr Russell said.
Mortgage Choice expanded its network of mortgage brokers by 3.8 per cent to reach a franchise footprint of 386, the highest since January 2009.
"This [six month] result follows an extended period of dampened consumer and business confidence," Mr Russell said.
"However, with green shoots emerging in the property and housing finance markets, an uplift in conditions now looks very likely. This should go a long way in improving consumer and business confidence throughout the remainder of this financial year."
