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Aktiv Kapital operating profits up 14%
Thursday, 18th August 2011
Aktiv Kapital posts an operating profit of NKr105.3m for the second quarter - 14% up on last year. The increase is mainly due to operational improvements initiated in 2010.
CEO Scott Danielsen said: "Aktiv Kapital has an efficient operation and is capable of achieving revenue growth with its current cost base. W
"ith future portfolio acquisitions, our margins will move higher."
Cash collection on portfolios amounted to NKr362.4m in the second quarter, compared with NKr367.9m a year ago.
The decrease in cash collection is mainly related to the UK (-NKr11.9m), partly offset by an increase in Spain (NKr6.8m).
In the Nordic region and central Europe the development was stable.
Operating revenues from continuing operations came in at NKr244.6m in the second quarter (NKr232.7m).
The increase in operating revenues is mainly related to improved performance in central Europe, the Nordic region and the UK.
The positive development is driven by operational improvements and better macroeconomic conditions.
The operating cost ratio remained stable at 35% of collection on portfolios during the quarter.
Story provided by StockMarketWire.com
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