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MFG announces 'strong' half-year pre-tax profits

CEO describes it as 'a solid set of results' 

Island-based Manx Financial Group PLC (MFG) says it's posted its strongest half-year pre-tax profits for more than a decade.

The organisation says that's according to its interim results for that period.

For the six months up to 30 June 2022, the financial services group reported profits of £2.3million.

It's 105% ahead of the same period last year.

Meanwhile, the organisation says total assets increased by 12% to £317.7million and deposits went up 10% to £253.6million.

Elsewhere, shareholder equity has been recorded at £27million, a rise of 17%.

MFG includes, among its operating subsidiaries, Manx firms Conister Bank, Edgewater Associates and MFX.

MFG's CEO, Douglas Grant, is describing the latest figures as a 'solid set of results' and that it 'lays the foundations for further growth despite the adverse economic climate.'

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