Litigation funder, IMF Australia
(ASX:IMF) expects to announce a first half gross profit of around $11million with an after tax profit of approximately $8 million.
As announced in August, the company says its full year forecast was based upon four cases coming to a successful conclusion during the 2010 financial year and if so expects to achieve the forecast $20 - $24 million in after tax profits for fiscal 2010.
The company has received over $14 million dollars from the Sons of Gwalia case during the first half and expects to receive further funds in 2010.
IMF reported a profit of $20.76 million dollars for fiscal 2009.
