Atlas Mara 3Q Net Profit Falls
25 October 2016 - 6:25PM
Dow Jones News
LONDON-- Atlas Mara Ltd. (ATMA.LN), the Africa-focused financial
services group co-founded by former Barclays PLC (BARC.LN) Chief
Executive Bob Diamond, Tuesday reported a reduced net profit for
the first nine months of the year as expenses increased.
Net profit for the three months ended September 30 fell to $4
million from $7.1 million the previous year, on total income up to
$177.1 million from $154.4 million. The company said its results
included an adverse impact of $5.2 million from currency
depreciation.
"Although uncertainty around the economic environment, exchange
rates and monetary policies in our markets make near term forecasts
difficult, we expect the improving operational momentum in our
business that has been a feature of 2016 to continue," the company
said.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
October 25, 2016 03:10 ET (07:10 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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