GAM profits up as headcount drops 13pc

News Team, 04/08/2021

GAM Holding reported an underlying pre-tax profit of CHF 0.8 million for the first half of 2021.

This is an increase from the pre-tax loss of CHF 2 million in the first six months of 2020.

The IFRS net loss to 30 June 2021 was CHF 2.7 million, a significant improvement on the net loss of CHF 390.1 million a year earlier.

The loss in H1 2020 was largely driven by the full impairment of legacy goodwill (CHF 374 million), which was primarily created by the acqu...

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