LHV Group's net profit for January dropped by one-fifth compared to the previous year, amounting to 7.2 million euros due to significant losses in its insurance sector and a halved profit in the UK.
LHV Group experienced a substantial decline in its net profit for January, reporting a decrease of 20% year-on-year to 7.2 million euros. This considerable downturn can be attributed primarily to the poor performance of LHV Insurance, which went from a profit of 249,000 euros to a loss of 400,000 euros. Such a steep decline in the insurance sector highlights the challenges that the company is currently facing.
