Bayport Management Ltd Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 15, 2023 at 08:04 pm IST
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Bayport Management Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 3.68 million compared to net income of USD 5.34 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to basic earnings per share from continuing operations of USD 0.16 a year ago. Diluted loss per share from continuing operations was USD 0.11 compared to diluted earnings per share from continuing operations of USD 0.15 a year ago. Revenue was USD 27.408 million compared to USD 35.784 million a year ago.
For the nine months, net income was USD 3.71 million compared to USD 14.56 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.42 a year ago. Revenue was USD 87.879 million compared to USD 109.615 million a year ago.
Bayport Management Ltd is a Mauritius-based holding company. The Company is involved in the provision of retail financial services. The Companyâs subsidiaries include Bayport Financial Services Limited, Bayport Savings and Loans Limited, Bayport Financial Services (T) Limited, Bayport Financial Services Uganda Limited, Money Quest Investments (Proprietary) Limited, Bayport Colombia S.A., Bayport Asesores Ltda and others. The Company operates in Zambia, Ghana, Tanzania, Uganda, Botswana, Mozambique, Colombia and Mexico. Its products are structured into four product sets: credit, savings, transacting and insurance. Its personal loan products include both retail loans, which are recovered through direct payments, preferably through debit orders, and payroll loans, which are collected through employersâ payrolls. Its transactional account gives customers access to competitive interest rates, mobile banking, e-wallets, payment kiosks and automated teller machine (ATM) services.