August 31, 2016
SIA ExpressCredit financial results for first half year 2016
The Group’s operations during the reporting period from 1 January to 30 June 2016 have been according to plans. Total revenues for the fiscal period decreased by 20,9% compared to the period from 1 January to 30 June 2015 and totalled 7.34 million euro. Accordingly, the cost base for the period from 1 January to 30 June 2016 in comparison to 1 January to 30 June 2015 has decreased by 13.9%.
Due to implementation of the chosen business strategy, the following financial ratios were achieved in the first half of 2016:
- In the first half of 2016 the Loan portfolio of the Group reached 8.7 million euro (increase by 33.8% from 31.12.2015);
- the Group’s assets as at 30 June 2016 equal 13.6 million euro;
- net profit of the first half of 2016 amounts to 334 729 euro (in the same period in 2015 1 012 233 euro).
Operational data and trends suggest that turnover and profit figures will be better in the second half of 2016 than the first half of the year of 2016. The Company plans to finish the year with a result lower that results for the year 2015.
In attachment unaudited consolidated interim financial statements for the period 1 January to 30 June 2016.