Foothill Group’s Profit Jumps 60% in 4th Quarter

Foothill Group, a financial services concern with executive offices in Agoura Hills and Los Angeles, said its fourth-quarter profit jumped 60% from a year earlier and that full-year 1988 earnings rose 74%.

In the quarter that ended Dec. 31, Foothill’s profit rose to $3.3 million from $2.1 million. The company’s net income for all of last year climbed to $13.5 million from $7.77 million.

Foothill, which specializes in providing business credit and commercial real estate loans, attributed the gains to strong loan volume, increased fees from its asset-management services and lower overall costs.