Perth-based Euroz has benefited from healthier equity capital markets activity to post strong first-quarter earnings.
The stockbroking and advisory firm has told investors its unaudited net profit came in at $9.75 million in the three months ended September 30. That was buoyed by ECM work and the rising share prices of Westoz Investment Company and Ozgrowth Ltd.
In July, Euroz and Macquarie Capital were in the market with a placement for Independence Group. Imdex tapped Euroz in August to manage a share placement.
The firm is also said to be managing float preparations for engineering company Veem.
Euroz which is also pushing into the funds management and wealth space told investors group funds under management amounted to more than $1 billion.
Perth-based rival Patersons Securities remained in the red for a fifth straight year in 2015-16, and is undertaking cost cutting and restructuring in an attempt to stem losses.
Ord Minnett also posted a rise in net profit to $10.8 million last fiscal year.
