Guardian Group Trust's income falls to $3m

Guardian Group Trust Ltd, a subsidiary of the Guardian Group that specialises in trust, administrative accounting and back-office support services for mutual funds and asset management, reported an income after taxes and expenses of $3.014 million for the year ended December 31, 2024.

The company reported a $8.9 million reduction in income as compared to $11.9 million reported for the same period in 2023.

It recorded a profit after tax of $4.7 million, but took note of $1.27 million in losses on debt instruments at fair value of other comprehensive income, which consists of revenues, expenses, gains and losses that are excluded from net income on the income statement, according to International Financial Reporting Standards (IFRS).

The company also reported a loss of $1.2 million for net items that may later be reclassified as a profit or a loss