Focus on two operations

Geneva Finance has completed its year-end forecast for the March 2024 financial year.

The company is anticipating a decrease of about 24 per cent in pre-tax profit compared to the previous year. 

This aligns with a market update provided on November 29 when a 23.8 per cent decline in the September 2023 half-year results compared to the same period in 2022 was disclosed.

As highlighted in November’s announcement, the group has assessed the contributions of the group’s different business units and has decided to focus primarily on its two core operations – lending and insurance. 

Consequently, the board has made the strategic decision to exit the invoice factoring and debt-litigation operations. This decision requires a reassessment and write-off of associated goodwill. 

Despite these adjustments, the anticipated year-end results remain closely aligned with what was announced for the half-year.