Aforti Holding recorded nearly 3 times revenue growth in the third quarter of 2017
In the third quarter of 2017 Aforti Holding Group generated 46.5 million in revenues – almost 3 times more than in the same period of the last year. The consolidated net profit of the Group amounted 323 200 Zloty and was 68% higher than in the corresponding month of the last year. In the past quarter the Group has once again achieved operating profitability.
In the third quarter of 2017 Aforti Holding Group generated 46.5 million Zloty consolidated sales revenue. In comparison to the same period of 2016 represents an increase of almost 3 times. Consolidated net profit of the Group amounted to 323 200 Zloty and was 68% higher than in the same period previous year. The Group focused in the past quarter on intensifying its sales activities which resulted in record revenues. In parallel, the Management Board has been working to optimize fixed costs and improve the profitability of the products and services offered. The third quarter of 2017 was the second consecutive one in which the Group achieved operating profitability.
At the end of September, the Group's assets amounted to 74.2 million Zloty in comparison to 30.7 million Zloty at the end of September 2016.
"The third quarter represents the dynamic development of the Group and the next period in which we had record revenues. Maintaining this positive trend in recent quarters is a confirmation of our business strategy. We are on the good way to achieve durable operating profitability as in the third quarter we generated once again positive operating profit" said Klaudiusz Sytek, CEO of Aforti Holding S.A.
Further dynamic development is visible in the company offering loans to the SME sector - Aforti Finance. In the reported period it granted 9.8 million Zloty loans against 825 thousand Zloty in the third quarter of 2016. In July-September 2017 were submitted 640 loan applications totaling 58.7 million Zloty. In the mentioned period the Management continued to develop the existing sales network as at the end of the quarter there were already 7 sales offices. The company is also expanding its range of products dedicated to small companies. In recent months, marketing efforts have also been done on the Internet aiming to attract more potential borrowers.
Aforti Exchange which operates an online currency exchange platform, reported a 22.9 million euro turnover against 7.9 million euros in the same period of 2016. In the third quarter of this year, more features were introduced on the currency exchange platform and the sales policy focused on small and medium enterprises as the main users of the website www.afortiexchange.pl. In recent months the process of building a sales network in Aforti Exchange Romania S.A.
In the third quarter of this year Aforti Collections, company dealing with debt collection and offering services in corporate finance has raised 6.3 million Zloty worth of cases with almost 2.3 thousand debt collection orders.