Bellevue Group surprised markets today with provisional results for 2017. The company returned to profit and increased assets under management.
Bellevue Group plans to present the full-year figures on February 27, but today the company published a set of key figures: the asset manager had an operating profit of about 29 million Swiss francs and net of an estimated 21 million francs, the company said in a statement today.
The board of directors proposes a cash of 1.10 francs per share from its so-called capital contribution reserves to be decided at the annual general meeting slated for March 20.
Turnaround in 2017
The company said it had an increased «earnings power» and maintained a «positive momentum» in the growth of assets under management. Assets rose to more than 12 billion francs, thanks to an inflow of new money to the tune of 1.2 billion francs.
The company in 2016 posted a loss of 1.7 million francs, and the Swiss exchange operator SIX issued a reprimand following an accounting error.
