Azimuth closes the first quarter with net profits down to 41,4 million from 63,3 recorded in the same period last year. Consolidated revenues drop from 136 to 112 million. The asset management company also recorded an increase in recurring commissions from 73,8 to 76,2 million, while variable management fees were halved to 26 million.
On the day in which the share updated its historical highs to 14,87 euros, the chairman and managing director, Peter Giuliani, confirmed the group's growth objectives. The board of directors has resolved to avail itself again of the faculty of partial early repayment of the “Azimut 2009-16 Subordinated 4%” bonds, repayment which will take place on 1 July for 17,69 million.
At the beginning of the afternoon, the Azimut stock gained about one percentage point in Piazza Affari.
