Sesame Bankhall Group Generate Zero Profit due to RDR Changeover

The Sesame Bankhall Group (SBG) have announced that they have failed to generate any operating profits over the last six months. They place the blame almost solely on their investment into new technology in addition to their preparing for the RDR transition. The general consensus is that such actions can help the group prepare for the long term, allowing a degree of sustainability that overrides the short term profit gain that they have missed out on. The group did trade profitably during the period, however all of the money was invested back into new technologies and RDR preparation. However with this mostly out of the way now, the group hopes to be able to present an operating profit over the next six months that match their operating profits of £2 million that were achieved during the same period last year. Parent company Resolution had operating profits before tax of £390 million, which were more than double the £151 million of the year before.
No Comments

Post A Comment