Letshego bullish in risk averse climate

At a time when most financial institutions have posted average results characterised by a slowdown in profit growth, Letshego expects its profits for the interim period to be significantly higher than the same period last year, indicative of a strong appetite for short-term loans among the public.

"Letshego would like to inform shareholders that the company expects profit before tax for the six months to July 2010 to be 40 percent higher than in [the] same period last year," reads a trading update from the company.The results will be announced around mid-October.