To €8 million: OVB increases operating profit by 33 percent

The European financial group OVB, based in Cologne, has achieved very pleasing mid-year results for the group. These were the business figures announced by the financial broker.

 
 

To €8 million: OVB increases operating profit by 33 percent

The European financial group OVB, based in Cologne, has achieved very pleasing mid-year results for the group. These were the business figures announced by the financial broker.

Sales growth of 4.4 percent to €115.8 million and a 32.8 percent increase in operating income from €6.1 million to €8.0 million – these are the mid-year results announced by the European financial brokerage group OVB.

“Although the environment remains challenging, we enjoyed positive development in all segments in the first half of 2016,” comments OVB CEO Mario Freis with regard to the very pleasing business figures for the Group. There is good news for OVB’s shareholders, too: in the first six months of the year, the company increased its earnings per share from €0.29 to €0.43.

In the first six months of the year, total sales commission climbed from €25.7 million to €30.4 million. OVB reports that the Southern and Western Europe segments in particular posted significant increases. Although the company forecast states that pace of growth is likely to slow down slightly in the second half of the year, the company is anticipating a slight increase in total sales commission for 2016 as a whole and a substantial year-on-year increase in operating income.

Author: Iris Bülow

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