Life Partners Holdings, parent company of Life Partners, Inc., has posted a strong growth in net earnings and revenues for the fiscal year ended February 28, 2009. The company posted net earnings of $27.2 million, up by 46%, as compared to $18.8 million in the fiscal year 2008.
Revenues for the year amounted to $103.6 million, an increase of 43% in relation to last year. All the figures are adjusted for the 5-for-4 forward stock split occurred on February 16, 2009.
Brian Pardo, CEO of Life Partners Holdings, said: “We are extremely pleased with our results for this year. At a time when many companies are facing severe downturns in earnings, we are proudly growing our business and continuing to deliver value to our shareholders and our clients. The demand for life settlements and our services continues to grow and our success is proven by these financial results.”
Life Partners is involved in the secondary market for life insurance, usually known as life settlements.