Profit before tax for the Banks DIH Group was down by 6.4% for the half year ended March 31, 2017 compared to the same period in the preceding year when a one-off gain from the sale of shares was excluded from the results.
The company has cited reduced spending by consumers and what it termed “the prevailing economic conditions” for the results.
According to its interim financial statements for the half year in yesterday’s Sunday Stabroek, revenue for the period was up marginally from $14.6b in 2016 to $14.9b this year. Profit before taxation was down 38% from $4.08b in 2016 to $2.53b this year. The steep decline in profit was as a result of the gain on the sale of shares in 2016. Profit after taxation was $2.98b for 2016 compared to $1.57b this year.
Directors of the company have approved an interim dividend of
