Pepper makes a profit on G E Mortgages

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.

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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.

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Brendan Burgess said:

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

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TRS30 said:

Isn't 4.6 minus 3.5 not 1.1!!

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orka said:

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).

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