Helsinki, 2017-06-20 08:00 CEST (GLOBE NEWSWIRE) --
TAALERI PLC STOCK EXCHANGE RELEASE 20 June 2017 AT 8.30
Taaleri raises its profit forecast
Taaleri Plc adjusts its estimate of the operating profit of the year 2017 upwards. In January-June 2017, the Group's operating profit is estimated to exceed 35 per cent of the income. The operating profit target for the Group is over 20 per cent, hence the operating profit for the full year is estimated to be over 25 per cent of the income.
“Development in Wealth Management and Financing has been strong, while the assets under Taaleri's management have increased faster than estimated. At the end of last year, the assets totalled EUR 4.8 billion. Currently, we are well over EUR 5 billion. The successful launches of new private equity funds and the development of mutual funds have increased wealth management fees, which has boosted the Group's income,” says Taaleri Plc CEO Juhani Elomaa.
Taaleri provides its guidance based on the financial objectives approved by Taaleri Plc's Board of Directors. Addition to the operating profit target, the other key figures describing the financial targets are: equity ratio of over 30 per cent, and return on equity in the long term of over 15 per cent.
Juhani Elomaa, CEO, Tel. 358 40 778 9020
Minna Smedsten, CFO, Tel. 358 40 700 1738
Taaleri in brief
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Oy and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, and Inderes Oy, which produces analyses and media content for investors.
At the end of December 2016, Taaleri had assets under management totalling EUR 4.8 billion and 3,900 wealth management customers. Taaleri Plc has some 2,800 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.
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