Pepper makes a profit on G E Mortgages

[Brendan Burgess]

http://www.irishtimes.com/business/...-books-profits-on-woodchester-loans-1.1636072

The Irish arm of Australian financial group [broken link removed] made an operational profit of €1.2 million in the first three months after it took over a major portfolio of mortgages from [broken link removed] Woodchester Home Loans Ltd.

...
Pepper’s account show it earned income of €4.6 million in portfolio management fees in its first three months of business here. Its administration expenses amounted to €3.5 million, with the company employing an average of 96 staff during the year.

 

[TRS30]

http://www.irishtimes.com/business/...-books-profits-on-woodchester-loans-1.1636072

4.6 minus 3.5 not 1.1!!

 

[orka]

Isn't 4.6 minus 3.5 not 1.1!!

With that level of rounding, the difference could be anywhere from 1.0 to 1.2. For example, it could be 4.64 (rounds to 4.6) minus 3.46 (rounds to 3.5) = 1.18 (rounds to 1.2).

 

[TRS30]

With that level of rounding, the difference could be anywhere from 1.0 to 1.2. For example, it could be 4.64 (rounds to 4.6) minus 3.46 (rounds to 3.5) = 1.18 (rounds to 1.2).

True; could also be a typo