Victoria Mutual Investments Limited (VMIL) recorded Net profit of $89.59 million in Q1 2021 (March), an increase of $126.49 million over the corresponding period in 2020
Note though that last year’s results were lower than normal, so despite the growth seen in this quarter’s results. Remember
- Last year’s results were depressed
- They have been making way more than the $90m reported here
- Company has made even more than $200m a quarter in some cases
Revenue for the three-month period was $482.45 million, reflecting an increase of $214.08 million when compared with the corresponding period of 2020.
Operating expenses for the period totalled $374.61 million, an increase of $26.79 million or 7.70%. Expenses are growth-focused management says and relate to the development of team members and other support services required to position VMIL for future growth
The Company says “The first quarter of 2021 saw an improved investment climate when compared to 2020 with rising bonds and equity prices coupled with an increasing appetite for capital market transactions,”