Manx Financial Group Plc. (MFX.L) said that outlook remains extremely promising and it expects to report a marked uplift in profit for the first six months of 2014 in relation to the comparable period last year.
The company noted that the Group's total assets have surpassed 100 million pounds for the first time as of end April 2014 and anticipate that this figure will be maintained and exceeded for the remainder of the year.
Conister Bank Limited, the wholly owned regulated banking subsidiary, announced that, following a number of settlements, all remaining outstanding liabilities in connection with the Litigation Funding debtor have been fully collected, which will result in a further credit to the Group's Interim Income Statement for 2014. Conister Bank entered the Litigation Funding market at the end of 2001. The final legacy issue for Conister Bank has been resolved.
Finally, the Group anticipates making an announcement shortly with regard to a new joint venture focussing on insurance premium and asset backed finance for the UK professional business sector.
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