(Reuters) -Italian asset manager Anima Holding on Wednesday reported a 78% rise in its nine month net profit helped by new business it acquired which helped to drive up revenues.
Net profit totalled 172 million euros ($184 million).
The company results were bolstered by the contribution of real estate management company Vita, acquired in August 2024, as well as the business of Kairos and Castello SGR, purchased in May 2024 and in 2023, respectively.
“The resulting stronger financial position can only broaden the range of available options for the consolidation of our business and shareholders’ remuneration,” Chief Executive Alessandro Melzi d’Eril said in a statement.
By 1300 GMT shares rose 1.5% for a 43.2% increase year-to-date.
Total revenue rose 48% from a year earlier to 367 million euros, with performance commissions staging a comeback and recurring commissions up 16%. Excluding the acquisition, revenue grew 38%. ($1 = 0.9331 euros)
(Reporting by Alberto Chiumento in Gdansk; editing by Milla Nissi and Jan Harvey)
