Riga, 2016-08-31 20:34 CEST (GLOBE NEWSWIRE) -- 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 comparisont to 1 January to 30 June 2015 have decresed 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 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.
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SIA ExpressCredit is a licensed non-bank lending institution, which was founded in the 2009. SIA ExpressCredit operates 95 branches under the brand name Banknote (up to 23.11.2015 Lombards24.lv) in 40 largest Latvian cities and towns, offering loans against pledge of movable property (Lombard credits), loans without collateral. The Company has provided services to more than 250 thousand customers. The owners of SIA ExpressCredit are SIA Lombards24.lv (65,86%) and SIA AE Consulting (31,64%), Management (2,5%).
Contacts:
Kristaps Bergmanis
Tālrunis: +371 29144168
Fax: +371 67809194
E-mail: Kristaps.Bergmanis@banknote.lv
