Corinthia Finance slides down in 2001

Corinthia Finance plc had a dismal showing last year with the company registering a profit after taxation of slightly less than Lm1,700, a pittance when compared to more than Lm21,000 registered in 2000.

The financial statements for the year ended 31 December 2001 indicate that the company’s revenue amounted to Lm684,500 generated from interest charged to its parent company. However, the payable interest amounted to Lm670,000 leaving a net interest gain of Lm14,500. The net interest earned for the previous year was of Lm45,819.

Earnings per share amounted to 0.017 cents, a far cry from the 0.21 cents registered in 2000.