VIENNA (dpa-AFX) - Intermediate Capital Group plc (ICP.L) announced its first half results for the six months ended 30 September 2012. Group profit before tax was 39.6 million pounds compared to 108.8 million pounds in the first half of last year. This comprises profit before tax of the Fund Management Company of 17.2 million pounds compared to 17.1 million pounds prior year, and profit before tax of the Investment Company, including fair value movement on derivatives, of 22.4 million pounds compared to 91.7 million pounds prior year. The decrease in Group and IC profit before tax for the period is due in part to a higher level of impairments in the current period.
Group profit after tax to equity holders decreased to 39.8 million pounds from 85.4 million pounds prior year. Earnings per share was 10.3 pence compared to 21.6 pence prior year.
Intermediate Capital Group said the challenging environment provides a difficult backdrop for its portfolio companies. While the performance of investment portfolio has been broadly resilient, the group took material provisions for two large assets which are undergoing restructurings.
The Board has declared an interim dividend of 6.3 pence per share.
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© 2012 AFX News
