Mirabaud, a Swiss wealth and asset management group, has reported consolidated net income of CHF22.3m ($23.2m) for the first half of 2017, a surge of 29% over CHF17.3m ($18m) in the year ago half.
The group’s gross profit, excluding operating expenses, was CHF26.8m, up 24% compared to CHF21.5m in first half of 2016.
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Revenue for the first half of 2017 was CHF151.6m, a rise of 8% from CHF139.5m in the year ago period.
Assets under management (AuM) as at 30 June 2017 totalled CHF31.2bn, up 4% compared to CHF29.9bn at the end of year 2016. Of the total AuM, CHF8.1bn was managed by the group’s asset management arm.
The group’s consolidated balance sheet totalled CHF4.19bn at the end of June 2017, as against CHF4.32bn as at 31 December 2016.
Mirabaud senior managing partner Yves Mirabaud said: “These results show good returns on our investments and reflect the relevance of our strategy of controlled international development. The Mirabaud Group’s financial soundness and structure enable us to offer our clients and partners excellent and innovative services founded on know-how accumulated over many years.”
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