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An update from Manx Financial ( (GB:MFX) ) is now available.
Manx Financial Group PLC reported a record profit before tax of £9.9 million for 2024, marking a 41% increase from the previous year. This growth was achieved despite subdued economic conditions in the Isle of Man and the UK, demonstrating the resilience of the company’s growth strategy. The company plans to return 10% of its profit to shareholders through dividends, reflecting a 48.6% increase per share. Subsidiaries like Payment Assist Limited and Conister Bank Limited contributed significantly to the group’s performance, with Payment Assist nearly doubling its profitability and Conister Bank maintaining strong liquidity. The group’s strategic focus on SMEs and niche financial products has allowed it to build a valuable portfolio of subsidiaries, enhancing shareholder value.
More about Manx Financial
Manx Financial Group PLC is a financial services group that includes subsidiaries such as Conister Bank Limited, Conister Finance & Leasing Ltd, Payment Assist Limited, Blue Star Business Solutions Limited, Edgewater Associates Limited, and MFX Limited. The company operates primarily in the Isle of Man and the UK, focusing on providing financial services to small and medium-sized enterprises (SMEs) and retail customers. It has recently entered the mortgage market and continues to grow its lending and deposit balances.
Average Trading Volume: 101,941
Technical Sentiment Signal: Buy
Current Market Cap: £30.53M
For detailed information about MFX stock, go to TipRanks’ Stock Analysis page.