Cantor profits slide by 78pc
Pre-tax profits at investment and stockbroking firm Cantor Fitzgerald last year reduced by 78pc to €1.72m.
New accounts filed by Cantor Fitzgerald Ireland Ltd show that the company's profits reduced as its income fell by 5pc, to €21.8m from €22.9m. The chief factor behind the drop in profits was "other operating income" of €4.7m in 2017 that did not occur last year. The income arose from the company's gain from the sale of its stake in the Irish Stock Exchange.
Its operating profit reduced to €1.7m from €3m.
Numbers employed by the company, led by CEO Ronan Reid, last year increased to 129 from 122, and staff costs decreased to €12.5m from €12.6m.
Please log in or register with Independent.ie for free access to this article.
The directors stated that they were satisfied with the level of turnover, and that they continued to manage costs and develop new income generation opportunities.
Shareholder funds totalled €28m. Directors' remuneration amounted to €250,924.