August 28, 2015
SIA ExpressCredit financial results for first half year 2015
The Group’s operations during the reporting period have been successful. Total revenues for the fiscal period increased by 22% compared to the period from 1 January to 30 June 2014 and totalled 8 932 793 euro.
Due to implementation of the chosen business strategy, the following financial ratios were achieved in the first half of 2015:
- In the first half of 2015 the Loan portfolio of the Group unchanged;
- the Group’s assets as at 30 June 2015 equal 12.2 million euro;
- net profit of the first half of 2015 amounts to 1 012 233 euro (in the same period in 2014 481 999 euro).
During the reporting period, on 12 February 2015 the Parent company and the Riga City Council has signed a contract on purchase of 569 148 (100%) shares of SIA “Banknote” ( till 30.04.2015. SIA “Rigas pilsetas lombards” ) which were auctioned by the former owner. The purchase price of 880 000 euro was fully paid on 18 February 2015. On 23 February 2015, the transaction was registered in the Companies’ Register.
Operational data and trends suggest that turnover and profit figures will be better in the second half of 2015 than the second half of year of 2014. The Company plans to finish the year with a profit in excess of 2014 results.
In attachment unaudited consolidated interim financial statements for the period 1 January to 30 June 2015.