Hamburg-based asset manager MPC Capital has posted higher profit for the third quarter.
The Schroeder-family controlled company said earnings before tax came to EUR 3.8m ($4m), up from EUR 2m a year ago.
Revenue reached EUR 14.5m, compared to EUR 11.2m in 2015.
Management fees over the first nine months increased by 18% to EUR 28.3m, but transaction fees of EUR 9m fell short of the figure for the first nine months of the previous year, EUR 11.9m, despite the high level of transactions in the third quarter.
“However, further transaction fees running comfortably into seven digits are anticipated for the fourth quarter,” it said.
Due to "promising business progress", the board is sticking to its forecast of a 10% rise in revenue for 2016 and “disproportionately higher” earnings growth, it added.
In September, MPC sold eight boxships for $398m to an Asian finance syndicate.
