Mike Pero increases profit forecast

Mike Pero Mortgages increased profit forecast provides little help for its share price.

Wednesday, July 14th 2004, 6:47AM

Newly listed mortgage broking firm Mike Pero Mortgages has upgraded its profit forecast. The company says, in a notice to the NZX, that it has traded well over the four months ended June 30 and preliminary results indicate the net surplus for the period will exceed the forecast of $338,028 contained in the prospectus for the Initial Public Offering by approximately 20%.

The result for the four months to 30 June will be released to the NZX in mid August.

The sharemarket initially treated the news warmly pushing up the share price. However, yesterday it slipped 4c to 90c, reversing half of the gains booked when it upped its quarterly profit forecast.

MPM shares listed at $1 each. You can check out the share price HERE

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Another blow to advisers over trail commissions

Mike Pero increases profit forecast

Mike Pero Mortgages increased profit forecast provides little help for its share price.

Wednesday, July 14th 2004, 6:47AM

Commenting is closed

AIA - Back My Build
AIA - Go Home Loans
ANZ
ANZ Blueprint to Build
ANZ Good Energy
ANZ Special
ASB Bank
ASB Better Homes Top Up
Avanti Finance - Near Prime
Avanti Finance - Specialised
Basecorp Finance
BNZ - Classic
BNZ - Mortgage One
BNZ - Rapid Repay
BNZ - Std
BNZ - TotalMoney
CFML 321 Loans
CFML Home Loans
CFML Prime Loans
CFML Standard Loans
China Construction Bank
China Construction Bank Special
Co-operative Bank - First Home Special
Co-operative Bank - Owner Occ
Co-operative Bank - Standard
Credit Union Auckland
First Credit Union Special
First Credit Union Standard
HBS
Heartland Bank - Online
Heartland Bank - Reverse Mortgage
Heretaunga Building Society
ICBC
Kainga Ora
Kainga Ora - First Home Buyer Special
Kiwibank
Kiwibank - Capped Variable
Kiwibank - LVR >80%
Kiwibank - Offset
Kiwibank - Special
Kiwibank Special
Kiwibank Special
Liberty
Nelson Building Society
Pepper Money Near Prime
Pepper Money Prime
Pepper Money Specialist
SBS
SBS Bank
SBS Bank Special
SBS Construction lending for FHB
SBS FirstHome Combo
SBS FirstHome Combo
SBS Unwind reverse equity
TSB Bank
TSB Special
Unity First Home Buyer special
Unity Special
Unity Standard
Waiarapa Building Society
Wairarapa Building Society
Westpac
Westpac - Choices Everyday
Westpac Choices Everyday
Westpac Offset
Westpac Special