Nottingham Building Society profit falls 19% on increased spending
Source - SMW
Nottingham Building Society posted a 19% drop in annual profit amid flat sales and rising expenses.
Pre-tax profit for the year through December fell to £11.8m, as revenue remained at £55.6m.
Profit were brought down by the impact of our investment plans for the company's future, Nottingham Building Society said.
'2019 will undoubtedly be a year of uncertainty for us all,' chief executive David Marlow said.
'We continue to believe that our unique proposition, if delivered brilliantly and continually evolving to match changing expectations, will remain as popular as ever with our growing membership.'