Access Financial Services is reporting lower profits for the nine months ended December, despite modest revenue growth.
The company posted consolidated net profit after tax of $320 million — down 9 per cent, or $33 million, compared to the same period last year.
The decline was largely due to higher operating expenses, which rose 7 per cent.
Operating income, however, grew 3 per cent to $1.9 billion, supported by a 4 per cent increase in interest income from loans. Interest expenses fell 6 per cent, in line with lower loan payables.
For the December quarter, profit before tax totalled $132 million, reflecting higher expansion costs and hurricane-related credit loss provisions.
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