DBAG announces positive pre-tax profits

Deutsche Beteiligungs AG (DBAG) has unveiled pre-tax profits of EUR 5m for the 2000/1 financial year, a drop of EUR 38m on the figure for the previous twelve months. Net income for the period amounted to EUR 7.8m against EUR 32.1m in 1999/2000. In response to the deteriorating economic situation, the firm scaled back its investment activity in 2000. New investments amounted to EUR 31m compared to EUR 101m the year before. The group also unveiled plans to step up its fund management services which generate annual fixed management fees and variable performance-related bonuses.

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