H&R; Block Posts Profit Rise, Warns on Revenue

H&R; Block Inc. said its fiscal fourth-quarter net profit rose 10% to $374 million, or $4 a share, in line with expectations, as it charged customers more for its main tax preparation services. But the firm warned that its revenue growth over the next 12 months probably would be lower than its target of 10% to 15%, as its investment management operation continues to struggle with ailing stock markets.

The Kansas City, Mo.-based company reiterated that its fiscal profit would meet analyst forecasts. It also announced a 2-for-1 stock split, effective Aug. 1.

H&R; Block shares fell 7 cents to $62.73 on the NYSE.