Aforti Holding Group income reached over PLN 33 million in 1Q
Aforti Holding Group reported over PLN 33 million of income in 1Q 2017. The figure is triple the amount reached in analogical period in 2016. At the same time the amount reached is more than a half of the income on sales earned throughout 2016. Consolidated net profit of the Group amounted to PLN 374 thousand. The performance is a result of a soaring number of loans granted by Aforti Finance and increasing turnover reported at Aforti Exchange platform.
In 1Q 2017 Aforti Holding Group earned PLN 33.29 million consolidated profit on sales. In comparison to the same period in 2016, the result shows an increase by 192%. The said result is more than a half of the income reached throughout previous year. Consolidated net profit of the Group amounted to PLN 374 thousand. 1Q 2017 was devoted to the continuation of sales operations and focus on developing operational structures of Aforti Finance S.A. as well as opening new branches of Aforti Finance. At the same time fixed cost mitigation measures adopted in the previous months together with steps aiming at augmenting profit on sales of products and services on offer. At the end of March the Group’s assets amounted to PLN 46.23 million.
“The results presented are a consequence of the implementation of our strategic objectives. Each of our companies has a development path planned which includes targets to be reached in a given period. We continuously develop our projects and still search for new areas we could enter.”, says Klaudiusz Sytek, the President of the Management Board Aforti Holding SA.
Impressive results were reached by the company which offers loans for the SME sector, namely, Aforti Finance. In the reported period it issued over PLN 4.51 million-worth loans. This figure shows a sevenfold increase in comparison to the period January-March 2016. In 1Q 2017 there were 460 loan applications filed for the total amount of PLN 22.67 million. A strong surge in demand for Aforti Finance services is owed mainly to the development of traditional sales network all over Poland and a wide range of loan products on offer.
Aforti Exchange running an online foreign exchange platform reported EUR 15.64 million turnover, which is three times the amount reached in the same period in 2016. The significant increase is a result of improving offer conditions, introducing new functionalities to the platform, and expansion of regular Clients base.
“Aforti Finance and Aforti Exchange are our driving force. The ensure a growing recognisability of the Group and generate great operational and sales results. In the following periods we will focus on opening our own branches all over Poland and on further improvement of our products and services.”, Kaludiusz Sytek says.
In Q1 this year, company Aforti Collections rendering debt collection services and services in the corporate finance sector has contracted to deal with 13 thousand debt collection cases worth PLN 11 million. As can be read in the report, 1Q 2017 was devoted to the continuation of sales operations and concertation on the development of operational structures of the company.