Advertisement
UK markets close in 18 minutes
  • FTSE 100

    8,231.65
    -16.14 (-0.20%)
     
  • FTSE 250

    20,314.82
    -48.61 (-0.24%)
     
  • AIM

    765.54
    -2.49 (-0.32%)
     
  • GBP/EUR

    1.1819
    -0.0018 (-0.16%)
     
  • GBP/USD

    1.2626
    -0.0060 (-0.47%)
     
  • Bitcoin GBP

    48,696.34
    +64.95 (+0.13%)
     
  • CMC Crypto 200

    1,280.17
    -3.61 (-0.28%)
     
  • S&P 500

    5,453.62
    -15.68 (-0.29%)
     
  • DOW

    39,007.77
    -104.39 (-0.27%)
     
  • CRUDE OIL

    80.67
    -0.16 (-0.20%)
     
  • GOLD FUTURES

    2,307.80
    -23.00 (-0.99%)
     
  • NIKKEI 225

    39,667.07
    +493.92 (+1.26%)
     
  • HANG SENG

    18,089.93
    +17.03 (+0.09%)
     
  • DAX

    18,172.20
    -5.42 (-0.03%)
     
  • CAC 40

    7,620.29
    -42.01 (-0.55%)
     

Ant Group profit down 19% to 7.87 billion yuan

China International Fair for Trade in Services in Beijing

SHANGHAI (Reuters) - China's Ant Group posted a 19% fall in net profit of 7.87 billion yuan ($1.09 billion) in the three months to Dec. 31, according to Reuters calculations based on Alibaba Group Holding's earnings released on Tuesday.

The e-commerce giant reports profit from Ant one quarter in arrears.

Chinese authorities last July announced a fine of 7.12 billion yuan for Ant Group for violating laws concerning consumer protection and corporate governance, ending a years-long regulatory overhaul of the fintech company.

Both groups were co-founded by Chinese billionaire Jack Ma and Alibaba holds a 33% stake in Ant.

($1 = 7.2342 Chinese yuan renminbi)

(Reporting by Casey Hall; editing by Jason Neely)