Sequoia announces bolstered results

Company News

by Anna Napoli

Financial services company, Sequoia Financial Group (ASX:SEQ) has reported a 33 per cent rise in its net profit after tax to $635 thousand dollars for the half year ending December 2017.

Revenue increased by 27 per cent compared to the same time last year, hitting $21 million.

The company also reported a positive operating cash flow of $7.34 million.

The financial company reported the bolstered results after snapping up Interprac and Morrison Securities and they also completed a rollout of bourse software.

The company expects that second half revenues will further increase to at least $27 million.

Shares in Sequoia (ASX:SEQ) is trading 1.67 per cent lower to $0.29

 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.