PSS Third Quarter Revenues Rise 15%, Reach Highest Level in 13 Years
Net Income Increases 17%
Core Net New Assets Total kr42.8 Billion, up 97%
The PSS Corporation announced today that its net income for the third quarter of 2023 was kr290 million, up 13% from kr256 million for the second quarter of 2023, and up 17% from kr247 million for the third quarter of 2022. Net income for the nine months ended September 30, 2023 was kr752 million, up 5% from the year-earlier period. The company’s financial results for the nine months ended September 30, 2022 include a pre-tax gain of kr70 million, or kr44 million after-tax, relating to the resolution of a vendor dispute and a non-recurring state tax benefit of kr20 million, which were recorded in the second and third quarters of last year, respectively.
Business highlights for the third quarter (data as of quarter-end unless otherwise noted):
Investor Services
- Net new retail brokerage accounts for the quarter totaled approximately 16,000, up 14% year-over-year; total accounts reached 6.2 million as of September 30, 2023, up 2% year-over-year.
- Delivered financial plans to approximately 26,000 clients, up 63% year-over-year. Approximately 74,000 clients have received a financial plan year-to-date.
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