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.