Brief: Luzerner Kantonalbank Reports A Consolidated Profit Of 74.8 Million Francs After The First Quarter Of 2024

Luzerner Kantonalbank AG

12/04/2024 05:34

April 12 (Reuters) - LUZERNER KANTONALBANK AG  LUKN.S :
    * REPORTS A CONSOLIDATED PROFIT OF 74.8 MILLION FRANCS AFTER
THE
FIRST QUARTER OF 2024
    * THAT IS 13.7 MILLION FRANCS OR 22.3% MORE THAN IN THE SAME
PERIOD LAST YEAR
    * OUTLOOK: FOR THE ENTIRE 2024 FINANCIAL YEAR, LUKB WANTS TO
CONTINUE TO ACHIEVE A CONSOLIDATED PROFIT AT THE SAME LEVEL AS
THE PREVIOUS YEAR
    * COMPARED TO THE FIRST QUARTER OF 2023, IT INCREASED THE
PROFIT
FROM THE INTEREST BUSINESS BY 8.3 MILLION FRANCS TO 104.6
MILLION FRANCS (PLUS 8.6%) THROUGH VOLUME AND MARGIN EXPANSION
    * LUKB INCREASED ITS INCOME FROM COMMISSION AND SERVICE
BUSINESS
BY 2.2 MILLION FRANCS TO 31.7 MILLION FRANCS (PLUS 7.4%)
    * WITH TRADING SUCCESS OF 18.7 MILLION FRANCS, LUKB RECORDED
THE
SECOND BEST QUARTERLY TRADING RESULT EVER (FOR COMPARISON:
ANNUAL TRADING SUCCESS IN 2023: 59.6 MILLION FRANCS)
    * OVERALL, LUKB'S OPERATING INCOME AFTER THE FIRST QUARTER
OF 2024
WAS 156.7 MILLION FRANCS, 6.7 MILLION FRANCS OR 4.5% ABOVE THE
PREVIOUS YEAR'S FIGURE
    * IN THE FIRST QUARTER OF 2024, LUKB'S OPERATING EXPENSES
ROSE BY
5.5 MILLION FRANCS OR 8.1% TO 73.0 MILLION FRANCS
    * THE NUMBER OF EMPLOYEES SUBSEQUENTLY INCREASED TO 1,148
EMPLOYEES (DECEMBER 31, 2023: 1,135 EMPLOYEES; MARCH 31, 2023:
1,093 EMPLOYEES)
    * COMPARED TO THE COMPARABLE PERIOD OF 2023, PERSONNEL
EXPENSES
ARE 8.7% HIGHER AND MATERIAL EXPENSES ARE 6.5% HIGHER
    * THANKS TO THE SALE OF THE REAL ESTATE DIVISION OF THE
FUNDAMENTA
GROUP, THE COMPANY'S PROFIT AFTER TAXES EVEN ROSE BY 38.7
MILLION FRANCS TO 99.8 MILLION FRANCS (PLUS 63.2%)

Further company coverage:  LUKN.S 

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