VM Investments Report $118 Million in Net Profits


Victoria Mutual Investments is reporting consolidated net profit of nearly 118 million dollars for the first quarter ended March 31, 2019.

Victoria Mutual says this is an increase of more than 39-million dollars or almost 50% over the corresponding 2018 quarter.

Consolidated profit before tax for the three months ended March 31, 2019 was more than 160-million dollars.

This represents an increase of nearly 60-million dollars or just over 59-percent when compared with the previous year.

The Group’s performance was positively impacted by growth in net fees and commissions and gains on
investment activities.

Consolidated revenue for the three-month period was close to 439-million dollars, reflecting an increase of almost 153 million dollars.

Victoria Mutual recorded just over 285-million for the corresponding period in 2018.

Operating expenses for the period under review totalled over 277-million dollars.

These expenses relate to people development, asset tax and other support services required to grow the business.

Earnings per share for the quarter was 8-cents.

The Board of Directors yesterday approved the payment of an interim dividend of 3-cents per share, payable on June 12, 2019 to shareholders on record as at May 29, 2019.

The ex-dividend date is May 28, 2019.

In 2018, Tauna won the UNICEF Media Award for Excellence in Reporting on Children’s Rights. She graduated from CARIMAC in 2015 and joined NNN in 2016. Since then, she’s covered several high-profile court cases including the X6 murder trial, the police death squad trial and is currently covering the Uchence Wilson Gang trial. Thomas is the Producer of Talking History heard on Nationwide Radio every Saturday.

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