Coface reports €103m loss
The company said the result was impacted by the worsening of the credit crisis
Credit management company Coface has reported a loss of €103m for the first half of 2009, compared to a net profit of €95m for the same period last year.
Coface said the result was impacted by the worsening of the credit crisis, starting in the fourth quarter of 2008, which had dug into the company’s claims rate.
However, it said it had maintained the global volume of cover for its customers – up 3% since the beginning of the crisis, developed its turnover – up 3.2% on a comparable basis, and up
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