Geneva half yearly financial reports surge by 44%

Geneva Finance Limited (NZX:GFL) announced that their half yearly pre-tax profit had surged to $3.3m, showing a 44% increase from last year. It was further revealed that COVID related shutdowns have had an impact on the insurance sales and lending, however after it ended, the sales have seen an upsurge.

It is being predicted that impacts of the recession might be visible after the Christmas season is over, considering the current volatility of the market. COVID did not impact business as brutally as was being expected and there was no recorded tax expense for this period as the Company made use of undetermined tax losses.

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