July 23, 2020 / 5:39 AM / 22 days ago

Debt collector Intrum's second-quarter profit drop matches preliminary reading

STOCKHOLM (Reuters) - Intrum (INTRUM.ST), Europe’s biggest debt collector, on Thursday reported a core profit for the second quarter that matched a preliminary reading helped by cost control and the gradual reopening of economies.

Adjusted operating profit shrank to 1.35 billion Swedish crowns (119.57 million pounds) from a year-earlier 1.48 billion.

The group had on July 10 said quarterly profits would be substantially above its previous outlook as its markets had bounced back faster than expected from the pandemic hit.

Reporting by Anna Ringstrom; editing by Johannes Hellstrom

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