Barita Investments is reporting a strong performance for the first nine months of its financial year, with net operating revenue surging 61 per cent to J$10.1 billion.
Net profit increased 20 per cent to $2.7 billion for the nine months ended June 30.
The company also recorded a particularly strong third quarter, with net operating revenue rising 95 per cent to $5.2 billion, while quarterly profit after tax increased 24 per cent to $1.3 billion.
Barita says investment activities were a major driver of the performance, generating gains of $5.9 billion, an increase of approximately $3.6 billion over the corresponding period last year.
Net interest income more than doubled, rising 116 per cent to one billion dollars.
Mark Myers, Chairman of Barita Investments, says the results demonstrate the importance of resilience, adaptability and strong governance as the company navigates an evolving operating environment.
The performance comes as Barita continues to expand its financial services platform.
Barita says the integration of Barita Fund Managers, formerly JN Fund Managers, is also contributing to earnings and expanding its asset management, pension administration and investment management capabilities.
The acquired business contributed $519.6 million in net operating income and unaudited profit after tax of $118.7 million for the period ended June 30.
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