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Diamond Lifestyle
- BY: Andrew Hore |
- POSTED: 20/09/2007 |
- COMMENTS: Add yours
Diamond Lifestyle, which handles loan applications for council tenants wanting to buy their home, has reported an interim loss.
Management warned at the end of July that trading had been tough. Turnover edged up from £3.47m to £3.55m in the six months to June 2007. A profit of £644,000 was turned into an £83,000 loss. Net debt is £1.63m.
The problems of the UK banking sector have led to a tightening of lending criteria and reduced fees and commissions. The company had renegotiated its commissions but there has been more downward pressure.
Management is looking at potential acquisitions. The shares fell 0.75p to 3.625p.
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