Bellevue Group will probably post a loss for 2016 following an impairment of goodwill and a write-down.
Bellevue Group in 2016 had a pretax profit of just below 1 million Swiss francs, the company said in a statement today. Bellevue in December announced it made an impairment on goodwill worth 10 million francs and a write-down on intangible assets of 0.2 million of Bank am Bellevue. The bank, which specializes in brokerage, had a loss last year.
Earnings Rise in Second Half
The group will probably have to post a loss as well. It had an operating profit of 14.4 million francs and the company said earnings had improved in the second half of the year.
Operating profit in 2015 had been 24.6 million, with a pretax of 0.5 million francs.
Plans to Pay Dividend
Bellevue Asset Management attracted more money last year. Net new money measured up to 2.8 billion francs and assets under management reached 7.9 billion.
The company plans to pay a dividend of 1 franc per share out of its capital reserves.
