Over Fifty Group is on track to record a full year net profit in excess of the $7.3 million reported in 2006.
The group has reported a net profit after tax of $3.0 million for the half year to December 31, 2006.
OFG has declared an interim dividend of 5.0 cents per share for the period.
OFG’s managing director Chris Martin in the December 2006 half, the group made significant investments in OFG’s long term revenue generation platform with the acquisition of Century Funds Management.
The main sources of revenue during the half year were the Over Fifty Mutual Friendly Society and the property funds management division.
OFG continued to invest in the reverse mortgage business which generated strong volume growth.
“Looking toward the 2007 calendar year, we believe our new brand, the investments we have made during 2006 and our drive to meet the needs of the over fifty community, will position us for sustainable growth in the future,” he concluded.
Australian Property Journal
