Great Ajax Corporation (AJX) has reported a marginal increase of 0.12 percent in profit for the quarter ended Sep. 30, 2016. The company has earned $7.62 million, or $0.42 a share, compared with $7.61 million or $0.50 a share, a year ago.
Revenue during the quarter grew 7.50 percent to $11.62 million from $10.81 million in the previous year period.
Total expenses were $3.71 million for the quarter, up 29.18 percent or $0.84 million from year-ago period. Operating margin for the quarter contracted 536 basis points over the previous year period to 68.04 percent.
Net receivables were at $9.15 million as on Sep. 30, 2016, up 41.64 percent or $2.69 million from year-ago.
Investments stood at $755.63 million as on Sep. 30, 2016, up 47.99 percent or $245.03 million from year-ago.
Total assets jumped 44.84 percent or $253.63 million to $819.23 million on Sep. 30, 2016. On the other hand, total liabilities were at $538.22 million as on Sep. 30, 2016, up 61.88 percent or $205.74 million from year-ago.
Return on assets moved down 112 basis points to 0.96 percent in the quarter. At the same time, return on equity moved down 55 basis points to 2.71 percent in the quarter.
Debt increases substantiallyTotal debt was at $535.31 million as on Sep. 30, 2016, up 62.89 percent or $206.68 million from year-ago. Shareholders equity stood at $281.01 million as on Sep. 30, 2016, up 20.55 percent or $47.90 million from year-ago. As a result, debt to equity ratio went up 50 basis points to 1.90 percent in the quarter.
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