The Proven Group is reporting improved results for the quarter ended September 30, with net profits rising just under US$5 million, up from US$3.1 million during the same period last year.
The company says the better performance was helped by steady net interest income, other operating income and strong contributions from its associate companies.
During the quarter, Proven earned close to US$3 million in net interest income and just over US$7 million from other income sources.
Operating expenses were almost in line with total operating revenues, but profits were significantly boosted by more than US$5 million in preference share payments from associated companies.
After taxes and allocations and non-controlling interest, just under US$5 million was attributable to Proven stockholders compared to US$4.2 million a year earlier.
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