AustraliaÕs largest independently-owned mortgage broker, Mortgage Choice has announced a cash profit of $15.9 million for the financial year 2011. This figure is an increase of 7.4 percent on last year.

The group’s loan book (residential and commercial loans written by brokers in its franchise network and broker members of its aggregation arm) rose six percent to $42.4 billion. Franchise numbers grew by 5.4 percent to 368.

CEO Michael Russell said “This past financial year was one of the most demanding for the companyÕs brokers and staff in our 19 years of operation. Yet, Mortgage Choice emerged a consistent performer, unscathed and ready to capitalise on the opportunities that lie in wait.

“We are pleased to announce a 7.4 perdent rise in cash profit, a 5.4 percent lift in franchise numbers, our group market share reaching 4.1 percent of all new home loans in Australia and our customer satisfaction rating averaging 92.3 percent for the year.”

Russell added “We will heighten our brand presence with new collateral such as our just-launched marketing campaign and franchise recruitment website. We are kicking off other projects to increase lead generation and conversion across our much broader product range. We are improving our CRM, reporting and benchmarking systems for improved franchisee business development. We are exploring further new technologies and communication channels to increase efficiency, improve cost management and elevate our profile as an opinion leader.”