FBD to report increase of 257% in pre-tax profits

FBD is set to report a massive 257% increase in pre-tax profits tomorrow delivering €90 million to the bottom line compared to just €25.2m a year earlier.

The company, which has a market capitalisation of almost €600m following a sustained increase in the share price, remains on a buy recommendation with Dolmen Securities.

Dolmen analyst Stuart Draper made the prediction in a note to clients yesterday.