And within the division, while residential sales exchange income was down by 5% in the last four months of the period, the lettings income rose 4% and financial services income
(NASDAQ: LX) has announced that in the first quarter 2018, operating revenue increased from RMB 1.2 billion to RMB 1.6 billion, due to an increase in financial services income
, the company said.
According to the Bank of England, the UK's financial sector accounts for 40 percent of EU financial services exports, and nearly a quarter of all EU financial services income
Underlying earnings dropped sharply to PS1.1 million from PS9.2 million a year ago, but it said this was largely down to a fall in financial services income
. Gross profits nudged up by PS2.5 million to PS207.2 million.
The sector accounts for almost a quarter of all EU financial services income
and 40 percent of EU financial services exports.
Additionally, trust and other financial services income
and insurance commission income increased by $485,000 and $286,000, respectively, for the quarter ended March 31, 2016 compared to the same quarter last year.
Financial services income
, for instance, has been reclassified as part of net sales while discount fees paid on customers' credit use is now part of operating expenses rather than being netted against sales, as previously recorded.
The financial services income
basket was responsible for the second-largest share of these amounts, with 18.3 percent of the foreign-source taxable income and 14.7 percent of foreign taxes.
General category income is defined as income other than passive category income and includes financial services income
Those areas identified in 1996 and subsequently addressed by Congress include: overlap of the Controlled Foreign Corporation (CFC) and Passive Foreign Investment Companies (PFIC); the non-controlled section 902 foreign tax credit basket; the excess passive asset rule in Section 956A and the subpart F treatment of active financial services income
taxes on overseas financial services income
. The same rule changes were not applied to other forms of income, though.
"LSL therefore expects to report strong interim results on August 1 ahead of the board's expectations and significantly ahead of the same period last year, with the estate agency division performing ahead of the board's expectation and delivering strong growth in lettings and financial services income
, and with a strong performance by the surveying division."