Euroz doubles profit to $26.5m

UPDATE 2.25pm: Euroz has reported a doubling of annual net profit to $26.55 million, citing across-the-board improvement over its businesses.

The broking and financial services group said unaudited earnings for the year to June 30 rose 139 per cent from a comparative $11.12 million previously.

Directors have declared a final, fully-franked dividend of 9c a share, making 10.75c

for the year.

"These much improved profit and dividend results are representative of the improvement across all of our businesses in the past year," Euroz said in a statement.

Revenue from its securities division rose 25 per cent on improved deal flow, with the business involved in 13 transactions raising $611 million during the year.

Its Westoz Funds Management arm also reported a stronger contribution and Euroz said it was encouraged by the early investor response to its Westoz investment Management joint venture with former MLC chief executive Steve Tucker.

Euroz shares closed up 10c, or 7.69 per cent, at $1.40.