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Pre-tax comparative items amounted to – $ 24 million and related to the acquisition of a previously managed foreign credit portfolio and the costs of the proposed centralization of operations. British in Manchester.
Profit before tax excluding items affecting comparability was therefore SEK 165 million. During the quarter, the Company acquired credit portfolios worth SEK 2,341 million (786).
Operating profit amounted to 648 million SEK (530)
. Morgan Stanley noted that pre-tax adjusted profit of 165 million kroner was 11% lower than 185 million kroner in the first quarter. "Operating expenses remain high and the SEK 529 million in the second quarter was a 3% increase over the previous quarter." Morgan Stanley notes that the quarterly portfolio acquisition was record high due to the Hoist made purchases in adjacent asset classes.
Nordea notes that adjusted earnings for the quarter were 10% lower than forecast. It is noted that a large portion of the acquisitions of The portfolio was completed at the end of the quarter and therefore did not affect earnings in the second quarter, despite the fact that the bank considers it to be a matter of interest. a generally low ratio, after which a drop in prices could be considered justified
Hoist works to reduce costs, for example by closing a German office before the turn of the year and plans to close one of the offices British
In the second quarter, the company's adjusted operating margin was 33%, compared to a target of 40%. The adjusted return was 15%, compared to a target of 20%. The cost adjusted to revenue (K / I) was 75% in the last quarter. The company is striving to reduce the relationship over the next three years
The winch loses 3.7% Friday morning and has fallen 30% since the beginning of the year.
Restructuring work in Britain and Germany will have a positive impact on Klaus-Anders Nysteen written in the interim report of the CEO in the second half of 2018.
"But we must continue our work and still more.We still have a lot of work to do on the harmonized working methods, digital processes and automation.However, a first review indicates a potential savings of the order of 150 to 200 million, which will bring us to a C / I figure of less than 70 percent over the next three years, "he writes
. "The margins of our industry have declined in recent years and our main goal is to increase our operational efficiency," he continues.
High return on equity was 12% in the second quarter (10). Excluding items affecting comparability, it stood at 15% in the previous quarter.
The adjusted CPI (cost-income) of the second quarter was 75%.
"Although we are going to reduce our costs and constantly Klaus-Anders Nysteen points out: [traduction]
In the second quarter, claims on claims amounted to 2 341 million Swedish kronor (786). it was "the highest figure in the history of the company" and adds that "the long-term growth prospects are good."
"Overall, the overall outlook is strong with strong underlying growth. Our ambition is to go beyond this in the years to come, "he writes.
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