Manx Financial Reports Strong Profit Amid Challenges

Manx Financial (GB:MFX) has released an update.

Manx Financial Group PLC has reported a robust 16% increase in Profit Before Tax, reaching £3.5 million for the first half of 2024, despite challenging economic conditions and the looming threat of increased taxation in the UK. In strategic moves to adapt and grow, the company has accelerated the acquisition of Payment Assist Limited and continues to streamline its operations, including plans to commence taking retail deposits in the UK. Despite these positive developments, the Group expresses concern over a 45% trading discount to Net Asset Value.

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