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ots Ad hoc-Service: MLP AG
MLP again grows by more than 40 percent
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Heidelberg (ots Ad hoc-Service) -
- Confidence demonstrated by capital market and investors confirmed.
Strong growth remaining unaffected by external factors, especially in the subsidiaries
The preliminary results at MLP, the leading Private Finance company in Europe for sophisticated private clients and graduates, exceed the forecasts for the last fiscal year. The consolidated group revenues increased from Euro 542.7 million to over Euro 760 million. This represents a rise of 40 percent. The group profits before tax on income increased by 40 percent from 76.3 to over Euro 108 million. Especially the young MLP subsidiaries have contributed to the strong result. Profits before tax on income at MLP AG rose as expected by some 30 percent from 71 to over Euro 90 million.
At MLP Finanzdienstleistungen AG, the consulting subsidiary of the MLP Group, the customer base grew by over 21 percent to more than 370.500 clients. The office network has expanded rapidly from 151 to total 220 branch offices, representing an increase of over 45 percent and meaning that more than one new office was opened every week last year. This is a definite indication of the further dynamic growth within the group and the most important growth factor alongside the increase in the number of Financial Consultants and customers.
In the investment sector net inflows exceeded that of last year by 32 percent. New business increased to Euro 880 million in comparison with Euro 667 million in 1999. This places MLP among the top seven in terms of net inflows in comparison with companies associated with the Association of German Mutual Fund Companies - Bundesverband deutscher Investmentgesellschaften (BVI).
In 2000 MLP private clients took out mortgages and loans amounting to some Euro 920 million. Despite the weak industry trend, MLP was still able to record an increase of almost 20 percent.
Total premiums were increased about 10 percent from Euro 4.3 billion to some Euro 4.75 billion in the provisional sector, which at MLP includes unit-linked life assurance, term insurance, endowment insurance as well as occupational disability insurance. This is in comparison to the sector which recorded a 30 percent decline of new business.
The private health insurance business, which is also part of the provisional sector, grew in terms of new business from Euro 49 million by 27 percent to Euro 62 million annual contributions. This represents a market share for MLP of some 20 percent for new business in the private health insurance sector.
MLP Lebensversicherung AG (life assurance) also recorded high growth rates. The premium income grew by 60 percent from Euro 169 million to Euro 270 million. Compared to the sector which only grew about 3,5 percent in premium income in the same period.
MLP Vermögensverwaltung AG increased the assets managed in mutual funds by 104 percent from Euro 1.1 billion to Euro 2.3 billion. The total assets now managed within the MLP Group for customers rose to Euro 2.7 billion.
In its third year of business MLP Bank AG has again increased its number of clients, this year from 80,000 to 157,000, and will be able to announce positive business results.
Investor Relations: Jutta Funck Tel.: +49 (0) 62 21-3 08-3 30 Fax: +49 (0) 62 21-3 08-2 58 E-Mail: firstname.lastname@example.org
End ----------------------------------------------------- Internet: http://recherche.newsaktuell.deOriginal-Content von: MLP Finanzdienstleistungen AG, übermittelt durch news aktuell