AMWatch

One-off costs slashes profit at Denmark's Maj Invest

Non-occurence of extraordinary income at Maj Invest Equity slashes the Danish-based asset manager's profit compared to 2017. Maj Invest, however, reports of soaring growth from international investors.

Henrik Parkhøi

At first glance, asset manager from Denmark Maj Invest's annual financial reporting look catastrophic. Profit after tax takes a nosedive of over DKK 100m (EUR 134k) to DKK 92m (EUR 123k) in 2018.

The drop is due to a combination of currency translation adjustments on investments, performance fees from Maj Invest Equity and adverse financial markets in the last quarter of 2018.

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