Dorchester more than doubles 1H earnings, raises annual profit guidance

Tue, 25 Nov 2014

By Paul McBeth Nov. 26 (BusinessDesk) - Dorchester Pacific, the finance and insurance firm buying Turners Group, more than doubled first-half earnings with the contribution from recent acquisitions and lifted full-year guidance. Net profit rose to $5.1 million, or 1.025 cents per share, in the six months ended Sept. 30, from $1.8 million, or 0.586 cents, a year earlier, the Auckland-based firm said in a statement. Revenue climbed 38 percent to $21.7 million, with its Oxford Finance acquisition performing 20 percent ahead of forecast....

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