Western Financial Group today announced its operating and financial results for the year ended December 31, 2004. For the year, revenue increased 29.3% to $42.2 million from $32.7 million in 2003 and net income doubled to $4.2 million from $2.1 million in 2003.

Earnings per share amounted to 18¢ per share compared to 11¢ in 2003. Operating income increased 34.0% to $7.3 million from $5.5 million as compared to 2003.

“Financial results for 2004 surpassed our expectations, with all important indicators showing significant growth. The strong and growing earning power of our core business enabled us to continue to invest in future growth business units, such as Bank West, and still show significant overall gains,” said Scott Tannas, president and CEO of Western Financial Group, in a release. “We are determined to build on these results in 2005.”

Western Financial has offices in towns and small cities across Western Canada. The company increased its customer base over 30% in 2004 and now provides more than 200,000 customers with insurance, investment and banking products through WFG Agency Network, Western Life, Bank West and The Western Mutual Fund Co.