Profit outlook improves for Wide Bay

Better trading conditions over the first four months of the financial year have led Wide Bay Australia to lift its projection for the full year profit.

Back in August, Wide Bay said it expected to exceed the 2009 profit by between 15 per cent to 20 per cent. The bank now expects to exceed that profit by 25 per cent.

Ignoring investment losses from its captive mortgage insurer, Wide Bay said net profit increased 10 per cent to $20.3 million in the year to June 2009.