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Manx Financial Group PLC - Isle of Man-based financial services firm - Posts net interest income of £24.3 million for 2022, up 35% from £18.0 million in 2021. Pretax profit jumps by 71% to £5.2 million from £3.0 million, as operating income rises to £26.1 million from £20.0 million a year earlier. Interest revenue, calculated using the effective interest method, rises to £29.0 million from £21.0 million. Looking ahead, says its various business streams are well-positioned to support the growth in profitability for this year. Executive Chair Jim Mellon says: ‘The year’s financial performance sets a record despite the continued economic uncertainty in the Isle of Man and the UK throughout 2022. Profit before tax payable increased by £2.2 million to £5.2 million, an increase of over 70%. As a result, we are well-positioned to support the growth in profitability for 2023.’ Current stock price: 28.50 pence each, up 27% on Tuesday morning in London 12-month change: up significantly from 8.50p a year ago Copyright 2023 Alliance News Ltd. All Rights Reserved.
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