Consumer loan company Aiful Corp. said Thursday its group net profit jumped to 59.91 billion yen in fiscal 2002, up 70.9 percent from the previous year as a result of efforts to become a more diversified financial group.
Consolidated pretax profit in the business year to March 31 rose 6.4 percent to 111.80 billion yen on group operating revenues of 449.46 billion yen, up 13.2 percent, the company said.
Aiful also attributed its favorable earnings results to a strong business performance by Life Co., which became a wholly owned subsidiary of Aiful in March 2001.
In May 2000, Life, one of the nation's six biggest consumer credit firms at the time, filed for court protection from creditors due to massive nonperforming assets.
Aiful said it will pay a full-year, per-share dividend of 60 yen for the business year, including an interim dividend of 30 yen paid already. It paid a full-year, per-share dividend of 50 yen the previous year.
Looking ahead, Aiful forecasts a group net profit of 65.06 billion yen and pretax profit of 122.01 billion yen for fiscal 2003, on projected operating revenues of 494.52 billion yen.