First Activesaid it is confident about its prospects for the current year and beyond after it achieved a sharp increase in profits for the first half.
The company reported pre-tax profits up 56 per centto euro 23.5 million for the six months to June. Underlying profits also amounted to euro 23.5 million, a rise of 37 per cent on the previous year.
Earnings per share rose to 13.7 cents from 8.8 cents and the dividend rose to 4.5 cents, up 13 per cent.
The company, which specialises in the home loans market, said the first half showed a strong business performance, with the benefits of restructuring programme in 2000 flowing through. The programme is expected to generate annual cost savings of euro 13 million.
Chairman Mr John Callaghan said: "The group operates in a very competitive market and will continue to adjust as appropriate to meet market developments.
"We are now seeing the benefits of the major reorganisation of the group in the way we do business and we look forward with confidence to the remainder of this year and beyond".