iSelect Limited (ASX:ISU) has reported its full year profit figure dropped 53 per cent in fiscal 2014.
The online comparisons company reported a net profit of $6.3 million citing writedowns in forecasts of trail commission revenues as driving the contraction.
Earnings for the year were down 52 per cent but the company says increased activity in the health insurance and electricity segments are fuelling optimism.
CEO Alex Stevens says the business has grown significantly in 2014 which demonstrates an ability to provide meaningful diversification of income streams.
Looking forward the company says it’s expecting low double-digit revenue and earnings growth.
No dividend has been declared.
