Listed local insurer OAMPS has advised the Stock Exchange that its net profit after tax for the year ended June 30 is “more than a 100% improvement… on the previous year”. Last year the company produced its largest pre-tax profit in a decade – $7.1 million. That result was 103% better than the previous year.

Chairman John Jones said in a statement the performance “highlights the success of our ongoing acquisition program”.

OAMPS also announced that director Gareth Jones (no relation) has resigned from that position, and sold a total of 1.4 million shares. Most were taken up by Perpetual Trustees. Mr Jones will continue as CEO of OAMPS Insurance Brokers and a director of six subsidiary companies.