TRU should deliver another great result at the end of the month.


The Company experienced strong operating revenue growth in its ongoing
businesses for the half year ended August 2005: $24.3m compared to $21.9m, an
increase of 10.9% compared to the half year ended August 2004. Operating net
profit from ongoing businesses was $8.98m, up by 45% compared to the same period
last year. Trust’s focus on its ongoing businesses also produced strong growth in
operating EBITDA of $8.6m compared to $6.4m for the half year ended August 2004.
Over the past two years, Trust has concentrated on aligning its product offerings to its
strengths within the trustee, fiduciary, investment management and advice areas.
Trust’s ongoing businesses now consist of the following: Estates and Trusts; Funds
Management; Private Clients; Property and Infrastructure Custody; Structured
Finance; and Superannuation.
In light of this, the Company has increased its focus on its core strengths by exiting
the following businesses over the past year:
• Custody business in equity, fixed interest and related asset classes;
• tax and accounting; and
• superannuation administration.
Trust also formed a 50/50 joint venture in securitisation with The Bank of New York in
June 2005. This partnership offers substantial local presence and the expertise and
knowledge of a global leader in corporate trustee services.
Trust’s Managing Director, Mr Jonathan Sweeney said that these developments
provide a clear focus on products and services that are directly aligned to Trust’s
strategic principle: trusted financial solutions, personal relationships and integrity.
“We have focussed on trustee, fiduciary, investment management and advice
services – areas where we have real strategic advantages.
We are confident that this product mix provides a strong foundation for future growth
opportunities,” Mr Sweeney added.

http://sa.iguana2.com/cache/028077e9...TRU-245076.pdf

HME is worth a look as well a very good company too.