WIESLOCH (dpa-AFX) – The MLP financial services provider sets higher annual targets after a third quarter that is expected to be strong. EBIT is expected to reach between 85 and 95 million euros in the current year, the SDax Group announced on Wednesday in Wesloch. Recently, the top half of the old range of €75-85 million was in management's plans. According to preliminary key data, the group achieved significantly higher performance-related compensation in the third quarter of the year than previously expected. The operating result for the three months is therefore likely to be significantly higher than last year at €7.8 million. MLP stock initially rose significantly on the news in the afternoon, but has recently returned to the morning level and is up 1.8 percent.
Performance-related fees are charged for the performance of investment concepts in asset management and to significantly enhance the MLP's profits. A year ago, the MLP recorded just €0.1 million of wages as turnover in the third quarter, this time around €17 million. The MLP wants to provide the full numbers on November 14./men/stk
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