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FinancialNews
20-10-19
Taageer Finance net profit reaches USD7.144m
(MENAFN) Taageer Finance Company continued its growth with a year on year increase of 15.60 percent in the net investment in finance leases, which touched USD503.695 million as at the end of Q32019.
The company increased its net profit by 60.17 percent year on year to reach USD7.144 million.
Revenues have increased by USD7.7997m year on year and the interest and admin costs have also increased by USD5.690m year on year resulting in an incremental profit of USD 2.684m for nine months in 2019 when compared to 2018.
During the first nine months of 2019, Tanager"s market share has increased by 3.12percent and currently stands at 18.87percent. Taageer has once again showed its ability to keep pace in challenging times by posting good results amongst all the Finance companies. The full results for the nine months ended 30th September 2019 along with a complete set of unaudited financial statement will be released post-approval of the board of directors of the company at its meeting scheduled later in October.
MENAFN2010201900450000ID1099151878
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