Chesswood Group Ltd. (TSE:CHW) has released an update.
Chesswood Group Limited has reported a challenging first quarter in 2024 with an adjusted net loss of $5.2 million, attributed to higher general and administrative expenses from increased collection costs. Despite the loss, the company highlights the sale of $341.9 million in finance receivables, showcasing the growth of its alternative asset management business and a promising joint venture with Wafra through Bishop Holdings LLC. Chesswood’s strategic adjustments in its U.S. equipment leasing business aim for a higher yield on new originations and a realignment with current capital and loan demand conditions.
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