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Wednesday, 25 May, 2022
Home BUSINESSInvestment service companies’ net operating profit down in Q2
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Tue, 25 Oct, 2016 12:04:55 AM
FTimes Report, Oct 25
 
Investment firms’ net operating profit by guarter 2009–2016, EUR million. Source: Investment firms, Statistics Finland.
The net operating profit of investment service companies was EUR 27 million in the second quarter of 2016, which was EUR 13 million lower than in the corresponding quarter last year.
 
EUR seven million more net operating profit was accumulated than in the previous quarter, according to the data derived from Statistics Finland’s statistics on investment service companies.
 
In the second quarter, investment service companies accrued a total of EUR 93 million in commission income, which is EUR 16 million less than in the corresponding period of 2015.
 
Compared to the previous quarter, commission income went up by EUR 4 million. Commission expenses amounted to EUR 24 million, which is EUR two million less than one year previously.
 
Compared to the previous quarter, commission expenses went up by EUR 0.1 million, the statistics show.
 
Interest income amounted to EUR 0.3 million, which is two per cent more than one year earlier and 25 per cent less than in the previous quarter. Interest expenses were EUR 0.1 million in the second quarter and they fell by 47 per cent from the previous year's corresponding quarter.
 
Compared with the previous quarter, the interest expenses went up by five per cent.
 
The largest expenditure item of investment firms was administrative expenses, which in the second quarter of 2016 amounted to EUR 47 million that is four per cent more than in the previous year.
 
Compared with the previous quarter, the administrative expenses fell by EUR one million.
 
Of the administrative expenses, personnel expenses amounted to EUR 27 million, or 58 per cent of total administrative expenses.
 
Other operating expenses amounted to EUR 20 million, which is EUR two million more than one year previously.
 
The aggregate value of the balance sheets was EUR 323 million. The balance sheets grew by 16 per cent year-on-year.
 
The share of own equity in the total of the balance sheets was 68 per cent as per the data.
 
At the end of the second quarter of 2016, there were 63 investment service companies operating in Finland, of which 39 generated a positive operating result.
 
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