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Friday 14 December 2018

NCB profits dive 93pc

NCB STOCKBROKERS reported a massive 93pc plunge in pre-tax profits as investors shied away from financial markets.

The fall in profits last year came as revenues fell 29pc, from €38.8m to €27.4m.

NCB Group and subsidiaries' pretax profits plummeted from €956,000 to €66,000 in the year to the end of November last. This follows a similar 93pc drop in 2008, when pretax profits dipped to €956,000 from €13.5m.

The group, with offices in Dublin and London, generates its revenues through fees from stockbroking and corporate finance.

Sean Quinn holds just under a 25pc share in NCB, with management and staff having the majority shareholding.

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