Impressive quarter for Aforti Holding – increase in sales and profits
In 2Q 2017 Aforti Holding Group reported PLN 41.9 million income which is triple the amount reached in the same period last year. The consolidated net profit of the Group amounted to PLN 424.1 thousand, which is by 52.6% more than in analogous period in 2016. In the quarter in question the Group reached EBIT margin (operating profit) level.
In 2Q 2017 Aforti Holding Group recorded PLN 41.9 million of consolidated income from sales. In comparison to the same quarter 2016, the figure constitutes a triple increase. The record level of sales income value is a result of the intensification of sales activities and the development of operational structures.
Consolidated net profit of the Company amounted to PLN 424.1 thousand showing a 52.6% increase when compared to the same period last year. The fixed cost mitigation measures adopted in the previous months together with steps aiming at augmenting profit on sales of products and services on offer. In 2Q the Group reached EBIT margin (operating profit) level.
At the end of June the Group’s assets were at the level of PLN 56.9 million which is twice the value reached at the end of June 2016.
“Another great quarter proves that the business model we devised is effective and the Group has a considerable potential for development. We are intending to report growth in the quarters to come thanks to the use of synergy effect between the Group Members, focus on expanding our offer of auxiliary services, and acting in new areas, such as product portfolio for corporate banking, for instance.” Klaudiusz Sytek, the President of Aforti Holding S.A. says.
Further dynamic development may be observed in Aforti Finance, company offering micro-loans for the SME sector. In the period in question, the company issued PLN 9.3 million-worth loans, whereas in 2Q 2016 the value of loans reached PLN 845 thousand. There were 522 loan applications filed in the period April-June 2017 for the total value of PLN 41.4 million. A strong surge in demand for Aforti Finance services is owed mainly to the development of traditional sales network – at the end of the quarter there were 6 sales branches in Polish cities. The Company continues to work towards complementing its offer of loan products and recently new products have been addressed to small limited liability companies.
Aforti Exchange running an online foreign exchange platform reported EUR 17.4 million turnover against PLN 5.6 million in the same period in 2016. There were new functionalities introduced to the foreign exchange platform in 2Q. The Company pursued its sales policy targeted at SMEs being the main clients of the online service. In June, Aforti Exchange was registered in Bucharest. Launching operations on a new market is a part of the strategy which assumes expansion of the Company to European markets. Aforti is working on expanding its currency pairs, introducing new services and products, and obtaining a licence for payment institutions in Romania.
In 2Q 2017 Aforti Collections rendering debt collection services and services in the corporate finance sector has contracted to deal with 1.1 thousand debt collection cases worth PLN 3.1 million. The Company is currently concentrating on the expansion of operational structure.
About Aforti Capital Group:
Aforti Holding is a financial Group dedicated to small and medium-sized enterprises as well as micro-businesses. It provides top quality comprehensive services in the scope of personal finances and managing enterprises’ finances. The services on Group’s offer are addressed to both individual clients as well as experienced investors and medium-sized firms searching for optimal forms of financing their businesses and development plans.
Aforti Holding S.A. serves as a holding company for two key entities which offer complementary services to clients with broad portfolio spectrum as well as for Aforti Ac Sp. z o. o. conducting bookkeeping and accounting activity for other entities of the Group. Additionally, it renders marketing, legal and IT services for the said companies. Since 2011 it has been listed on alternative trading system on the New Connect market.
Vigorously developing Aforti Finance S.A. offers micro-loans to entrepreneurs. Aforti Finance comprises highly experienced professionals who have worked with both individual clients as well as enterprises. They have specialist qualifications in the area of sales of financial instruments.
Aforti Exchange Sp. z o. o. is a company providing foreign exchange services via an online platform. The operator renders services of exchanging nine foreign currencies. Aforti Exchange uses the growing trend, which shows that entrepreneurs importing and exporting goods and services seek cost savings connected with transactions in foreign currencies. Internet foreign exchange, currency exchange online platforms – that is an alternative to bank platforms which influences cost rationalisation of transactions in foreign currencies.
Aforti Collections S.A. specialises in managing receivables with the use of a wide range of debt collection tools. Its core activity is the management of the receivables and debt collection, as well as acquiring and servicing debt portfolios. Aforti Collections offer includes such services as payment monitoring or amicable and judicial debt collection; it also purchases debt portfolios. The offer is addressed to the SME sector, entities rendering B2B services, banks and loan institutions, insurance agencies, as well as telecommunications operations, and internet service providers.
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