29 Mar 2018 13:58
29 March 2018
Trading Update
Atlas Mara Limited (the "Company" or the "Group"), the sub-Saharan Africa banking group, today provides the following trading update ahead of the announcement of the Group's financial year-end results for 31 December 2017.
The Board expects profit after tax for the year to significantly exceed the current market expectations and guidance previously stating that "we are targeting reported earnings for 2017 to be more than double the level achieved in 2016" of $8.4 million. Profit after tax of around $40 million, with projected earnings per share of $0.35.
The cost savings achieved for the year ended 31 December 2017 is expected to be in line with the levels previously communicated to the market.
We will provide a more detailed update on trading in the final results for the year ending 31 December 2017, which are expected to be released on 30 April 2018.
Contact details
Investors:
Kojo Dufu, +1 212 883 4330
Media:
Teneo Blue Rubicon, +44 (20) 7260 2700
Anthony Silverman
About Atlas Mara
Atlas Mara Limited (LON: ATMA) is a financial services institution listed on the London Stock Exchange. Its vision is to create sub-Saharan Africa's premier financial services institution through organic and inorganic growth by combining the best of global institutional knowledge with extensive local insights. With a presence in seven sub-Saharan countries, Atlas Mara aims to be a positive disruptive force in the markets in which we operate by leveraging technology to provide innovative and differentiated product offerings, excellent customer service and accelerate financial inclusion in the countries in which the Company operates. For more information, visit www.atlasmara.com.