Azimut's net profit decreased, with revenues of 44,8 million euros in the first half, 2,9% less than in the same period of 2010 (46,1 million). The other balance sheet items published today by the financial hoding were more positive: in fact, consolidated revenues rose by 1,4% (from 171,5 to 174 million euro), while pre-tax profit grew by 2,7% (from 47,3 to 48,6 million).
The consolidated Net Financial Position at the end of June 2011 was positive for approximately 74,3 million, compared to 102,1 million at the end of December and 60,5 million at the end of June 2010. Dividends were paid for approximately 33 million euros, while another 21 million was used to purchase treasury shares. In the first half, the cash generated by operating activities amounted to 34,9 million.
“In the first part of the year, the group completed a series of acquisitions aimed at developing a growth strategy – comments Pietro Giuliani, president and managing director of Azimut – innovating products and strengthening its presence in new markets. We operated in a difficult context, with the savings industry focusing its offer on structured products, deposit accounts and policies, to satisfy the demand for fixed, albeit sub-optimal, returns. Azimut, on the other hand, continues to have a long-term vision aimed at pursuing a net performance for the customer that is higher than the risk-free one”.
