Madison Financial Services (LuSE: MFIN) saw net profits rise by 147% year-on-year to K12.1 million. Earnings per share came in at K0.24 (H1 2014: K0.10):
The company achieved this despite a sharp rise in foreign losses to K8.5 million and a spike in Interest and other finance costs to K37 million. MFIN managed to curb impairment losses to K2.3 million. Profit before tax was up 187% to K17.5 million.
MFIN increased first half revenue and investment income by 11% to K268.6 million:
Interest and investment income each posted growth of 44%. Insurance premiums and fee/commission income increased by 10% and 19% respectively. There was comprehensive growth across segments including an increase in the microfinance loan book and sales activity in the property development portfolio.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *