of $4,718,000 for the six months to September 30, a 42 percent increase on the $3.3 million profit for the same period a year ago.

The substantial climb in bottom line profit was assisted by $686,000 from a one-off recovery of provisions made in prior years on the carrying cost of the company's investment portfolio.

Without that one-time recovery, the six month earnings improvement is $704,000 or more than 21 percent.

Home president and CEO, Arthur Haycock, explained, "Almost all our primary lines of business showed strong growth over last year. Mortgage closings increased 34 percent to $38,420,000, while personal and consumer loan approvals were 30 percent higher at $6,586,000.

"Property sales through (subsidiary) Bermuda Realty increased 14 percent over the same period last year and property appraisals increased 43 percent.'' Home's total assets grew 5.5 percent year over year to $540,915,000. Loans and mortgages outstanding increased 8.2 percent compared to last year while customer deposits grew 4.9 percent to $481,002,000. Shareholders' equity rose 11.6 percent to $55,051,000.

Mr. Haycock said, "In recognition of our improved earnings, Bermuda Home's board of directors has increased the common share dividend from 11 cents to 12 cents per share for the quarter ending December 31, 1997. This represents a 9.09 percent increase in the common share dividend on an annual basis.'' BUSINESS BUC