HFA Holdings Limited
(ASX:HFA) has upgraded its projected interim net profit, citing a strong performance of funds under management, higher fee revenue and reduced operating expenses.
The company says it expects to report first half earnings of $US6.4 million, a significant increase on the $US2.6 million reported in the same period a year earlier.
HFA says it will formally release its results next month.
The company also responded to media reports suggesting a possible transaction is on the agenda, saying HFA regularly reviews its businesses with a view to increasing shareholder value, however this does not indicate a transaction is imminent or certain.
HFA generated a net profit of $5.9 million in fiscal 2013.
