Total group revenue for the company was $150 million, representing an increase of 4.2 per cent.
“Delivering solid, above target results for this financial year, the Mortgage Choice Group has exceeded many of its financial goals,” said Mortgage Choice chief executive Michael Russell.
“We continue to deliver profit growth in our core business of mortgage broking, whilst investing for the future in our diversified businesses.”
The results were accompanied by the announcement that Mortgage Choice will sell its aggregator, LoanKit, to retail finance brokerage Finsure.
Mortgage Choice is also looking to focus on its financial planning business, which was ‘soft-launched’ in October last year.
The financial planning arm outperformed its FY13 target of 8-10 advisers, reaching 11 at the end of the financial year.
At its annual results presentation yesterday, a Mortgage Choice spokesperson said the number of planners has since risen to 16 – and that the company is looking to have an adviser network of 60 within three years.
Mortgage Choice Financial Planning’s net loss after tax of $951,000 represented an outperformance of its August 2012 guidance, according to the company’s annual results.
“The progress of Mortgage Choice Financial Planning is very pleasing,” Mr Russell said.
“We have a unique proposition for our franchisees, advisers and customers and we are looking forward to a consumer launch in the not too distant future,” he added.
