Foothill Group Reports Profits of $6.6 Million

The Foothill Group Inc., a financial services company with headquarters in Los Angeles and Agoura Hills, reported net income of $6.6 million for the quarter ended June 30, a 9% jump from earnings of $6.08 million reported for the same three-month period a year ago.

For the six months ended June 30, net income rose 90% to $18 million from $9.5 million for January through June of 1993.

Henry K. Jordan, chief financial officer for Foothill, attributed the gains to improved margins and growth in the company’s asset-based loan portfolio.

The company reported total assets of $665 million at the end of the recent quarter, compared to total assets of $607 million at the end of the same quarter a year ago.

Foothill operates commercial lending and money management businesses.