Mortgage Choice beats forecast

Mortgage Choice played down the effect of the NSW housing market slump and a dispute with some of the broker's franchisees on the company. Mortgage Choice reported a 28 per cent increase in profit to $12.7 million profit, exceeding the prospectus forecast. The company expects to report “modest” profit growth of about five per cent in the 2006 financial year. Fears of a crash in the housing market had been “overstated”, the company said.