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Atlas Mara Annual Profit To Beat Market Views And Guidance

Thu, 29th Mar 2018 14:54

LONDON (Alliance News) - Atlas Mara Ltd, a sub-Saharan Africa banking group, said Thursday that annual profit is expected to exceed market expectations and previous guidance.

The company, which was set up by former Barclays Chief Executive Bob Diamond, estimates 2017 profit after tax to be around USD40 million, with projected earnings per share of 35 cents, ahead of market views and the previous company guidance stating that "we are targeting reported earnings for 2017 to be more than double the level achieved in 2016" of USD8.4 million.

Cost savings for the year is expected to be in line with the levels previously communicated to the market, the company said.

The company is slated to release its annual results on April 30.

Shares in the company were trading 1.9% lower at USD2.63 Thursday afternoon.

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