Listed broker Euroz is upbeat about the year ahead, predicting an improvement in commodities and resources markets after lifting its first half profit by almost 30 per cent.
Volatile and weaker commodity prices had contributed to lower turnover of the company's securities, but Perth-based Euroz said this was offset by improvements in corporate equity capital market transactions.
"We have remained deliberately patient through the difficult markets of the past few years but our directors believe that we are closer to improved commodity and resource-related markets," Chairman Andrew McKenzie said in a statement.
Euroz said net profit for the six months to December 31 was $12.4 million, up 28 per cent from $9.6 million in the previous corresponding period.
The company, which focuses on resources and industrial companies, said its subsidiary Westoz Funds Management made a solid contribution to the profit result.
It remains confident that its market position and strong balance sheet will provide leverage to shareholders in the future.
Weakness among small- to mid-cap miners has recently weighed on the results of resources-focused brokers as the heat comes out of the mining investment boom.
Euroz declared an interim dividend of 1.75 cents, up from 1.5 cents.
Shares in the company were steady at $1.21 at at market close on Wednesday.