Wholesale Broking Profits Drop 30 Per Cent At MAI
BROKERS
Profits from wholesale money and securities broking fell 30 per cent for the 1995 June-to-June fiscal year at conglomerate MAI, owner of money broker Harlow Butler Ueda.
The company reported that profits before taxes were £42.9 million on turnover of £332 million; turnover dropped 6 per cent for the year. The MAI results echo similarly disappointing interims announced by competitor Exco earlier this month (FXW, September 18).
According to the MAI report released last week, the fall resulted from
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