04:26 PM EDT, 05/07/2024 (MT Newswires) -- Goeasy ( EHMEF ) on Tuesday reported a higher first-quarter profit on higher revenue.

The company earned C$58.9 million, or C$0.34 per share, up 15% from C$51.4 million or C$3.01 per share, in the prior year period.

Adjusted profit, which excludes most one-time items, rose to C$66.3 million, or C$3.83 per diluted share, up from C$53 million, and C$3.10 per share, last year and topping the consensus analyst estimate for the measure of C$3.82 per share, according to Capital IQ.

Goeasy ( EHMEF ) which provides non-prime leasing and lending services, said revenue rose 28% to a record C$318 million, from C$210.4 million, last year.

Goeasy ( EHMEF ) also said loan originations of C$686 million, was up 12% from C$616 million. Loan growth of C$207 million was 6% higher than the C$196 million in 2023.

The Board of Directors declared a quarterly dividend of C$1.17 per share payable on July 12.

"With the momentum we are experiencing in the business, we now expect to finish at the high end of our loan growth forecast for the year, further accelerating our journey to be the leading consumer lender for the over 9 million Canadians with non-prime credit, " chief executive Jason Mullins said in a release.

The company's shares closed down C$0.10 to C$184.53 on the Toronto Stock Exchange.