Brooke Scores 186% Profit Jump to $4.16 Million

Overland Park, Kan.-based agency franchisor Brooke Corp. announced that 2003 earnings totaled $4.16 million, or 79 cents per diluted share on 2003 revenues of more than $65 million.

Annual earnings increased more than 186 percent from 2002 earnings of $1.45 million and annual revenues increased about 63 percent from 2002 revenues of about $40 million.

Quarterly earnings also increased 51 percent in 2003 to $992,000, or 19 cents per diluted share, in the fourth quarter of 2003.

Through subsidiaries, Brooke distributes insurance and related services through a network more than 250 franchise locations and has originated more than $100 millions in loans which have been sold to participating lenders or to investors through asset backed securitizations. A company subsidiary also sells insurance on a wholesale basis through its franchisees and others.