BSCH forecasts 43% net profit increase followed by 33%
Banco Santander Central Hispano has increased its net profit forecast for this year from Pts325bn to Pts375bn (E2.3bn UKP1.4bn $2.1bn). It also forecasts a net in excess of Pts500bn for 2001. This represents an increase of 43% on 1999 for this year and an increase of 33% in 2001 on the year 2000.
The forecast announcement was intended mainly to prove the current share placement which will increase the group's capital base by 8% would not be EPS dilutive. The forecast increase in net profits for this year is 15% up on the previous estimate. The statement also calculated that around 42% of profits would come from South America this year.
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