17th Aug 2015 08:42
LONDON (Alliance News) - Manx Financial Group PLC on Monday reported higher pretax profit in the first half and said it is "always on the lookout" for acquisitions to help it diversify.
The financial services group, which includes Conister Bank Ltd, Conister Card Services Ltd, and Edgewater Associates Ltd, said it made a GBP1.0 million pretax profit in the six months to the end of June, compared with GBP755,000 in the corresponding period the prior year.
"The group has delivered excellent profitability for the first half of 2015, and I have every confidence that the full year will see this momentum maintained. Our new business opportunities remain strong, and we will continue to manage our operational costs as prudently as possible," Executive Chairman Jim Mellon said in a statement.
"Our clear vision for the group's future combines organic growth with the development of complementary business lines. Notwithstanding, we are always on the lookout for meaningful and affordable acquisitions as we continue our diversification into an integrated banking and financial services group," Mellon said.
Shares in Manx Financial were down 7.3% at 12.75 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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