A buoyant domestic economy and an investor aversion to the equity market are responsible for United Finance's record six-month profit, says chief executive Kerry Finnigan.
The company has posted an after-tax operating profit of $1.48 million for the six months to December 31.
That was a 27.7 per cent increaseon the $1.16 million profit for the 15 months to June 30 last year.
United was incorporated in September 2001 and began trading in April last year.
The company is a subsidiary of Hanover Group, owned by Eric Watson and Mark Hotchin.
United's revenue for the period rose to $3.88 million from $1.87 million, while the pretax profit rose to $1.42 million from $897,000.
Total assets rose 64.6 per cent to $81.1 million from $49.2 million and total shareholders' equity increased from $25.79 million to $26.96 million.
"We experienced strong lending growth in lease and loan receivables, reflecting the strong economic confidence during the half year," chairman Mark Hotchin said.
Finnigan said the steady flow of money into the company by depositors came with a move away from investing in equities. He said the growth in the company's depositor base had exceeded expectations and the outlook was for this to continue.
United Finance subsidiary Leasing Solutions also had a "solid half-year" and dividends from it to United were above expectations.
Finnigan said Hanover still saw growth opportunities in the market and had some acquisition targets in its sights.
"We would also like to expand our overseas interests. We are keen to expand our presence in Australia."
