OSB Group PLC (OSB.L) Wednesday reported profit before tax of 192.3 million pounds for the first half, down 20% from 241.3 million pounds in the comparable period last year, primarily due to decrease in net interest income and a fair value loss on financial instruments.
The company recorded a fair value loss of 14.3 million pounds on financial instruments compared with a gain of 5.9 million pounds in the prior year.
Profit after tax fell to 142.1 million pounds or 37.3 pence per basic share from 178.3 million pounds or 44.4 pence per basic share last year.
Net interest income decreased 5% to 337 million pounds from 353.5 million pounds in the previous year.
OSB's net loan book increased by 1.2% to 25.4 billion pounds from 25.1 billion pounds on December 31, 2024.
The company has declared an interim dividend of 11.2 pence per share for the first half, up 5% from the prior-year period, to be paid on September 19, to shareholders of record on August 29.
Looking ahead, OSB has reiterated its full-year guidance of low single-digit net loan book growth.
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