GBL: posts higher profit on favorable market environment
(CercleFinance.com) - Belgian holding company Groupe Bruxelles Lambert said its first-quarter net profit rose by over 40% thanks to a favorable market context.
With the financial markets reassured by the Fed's monetary policy in the first months of the year, profit for the first quarter reached 159 million euros, compared with 113 million euros in the same period last year, the Belgian group said.
GBL - which has stakes in companies such as adidas, Total, and Umicore - said its net asset value increased to 18.5 billion euros at the end of the quarter, from 16.2 billion euros at the end of 2018.
Over the 2012-2019, GBL's portfolio return has been 11.5%, compared to 0.8% for the STOXX Europe 50 index, Europe's leading blue-chip index, the group added.
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With the financial markets reassured by the Fed's monetary policy in the first months of the year, profit for the first quarter reached 159 million euros, compared with 113 million euros in the same period last year, the Belgian group said.
GBL - which has stakes in companies such as adidas, Total, and Umicore - said its net asset value increased to 18.5 billion euros at the end of the quarter, from 16.2 billion euros at the end of 2018.
Over the 2012-2019, GBL's portfolio return has been 11.5%, compared to 0.8% for the STOXX Europe 50 index, Europe's leading blue-chip index, the group added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.