29th Dec 2016 17:21
LONDON (Alliance News) - Caribbean Investment Holdings Ltd on Thursday said it swung to a loss in the first half of its financial year.
The holding company said it made a net pretax loss of USD2.0 million in the six months to the end of September, having made pretax income of GBP3.8 million the year before.
This came due to a higher provision for loan losses - which increased to USD12.6 million from USD4.9 million - offsetting a rise in interest income to USD21.3 million from USD17.1 million.
Shares in the company closed up 9% at 10.90 pence on Thursday.
By Karolina Kaminska; [email protected]; @KarolinaAllNews
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