Republic makes $650.4 million half-year profit

Date: 
Thursday, April 26, 2018 - 14:15

Republic Financial Holdings Limited (RFHL) has recorded a profit attributable to shareholders of TT$650.4 million for the half-year ended March 31, 2018.

This represents an increase of $19.9 million or 3.2% over the $630.5 million reported in the corresponding period of the last financial year.

Total assets increased by 0.3% over total assets as at March 2017, to stand at $69.1 billion at March 31, 2018.

The group’s chairman, Ronald F. deC. Harford, in announcing the group’s results said, “As was the case in the first quarter, the improvement in profitability was driven mainly by better performance in our overseas subsidiaries.”

He added that the profitability of the Trinidad and Tobago operations remains flat due to an increase in the tax rate.

The Board of Directors has declared a half-year dividend of $1.25 (2017: $1.25) per share, payable on June 1, 2018.

Harford said that this level of performance is expected to continue for the remainder of the fiscal year.

He also expressed his ongoing appreciation for the continued support of management, staff and clients of RFHL.

 

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