Brooke Releases Subs’ January Results

Overland Park, Kan.-based agency franchise network Brooke Corp. announced selected January results for its franchise and finance subsidiaries.

The company’s franchise subsidiary, Brooke Franchise Corp., consulted with franchisees and others in the acquisition of businesses in the states of California, Florida, Kansas, Missouri and Oklahoma, netting $1.3 million in consulting fees.

Five of the 11 new locations were auto insurance agencies acquired by a sister company which reduce January consulting fees by $726,000 when subsidiary financial results are consolidated with the parent company.

Loan portfolio balances of the company’s finance subsidiary, Brooke Credit Corp., totaled $120 million on Jan. 31, 2004. Garst noted that $9.8 million of the loan balances were obligations of sister companies which correspondingly reduce the Jan. 31 loan balances when subsidiary financial results are consolidated with the parent company.

Brooke has more than 220 franchise and company locations.