BCB Holdings Ltd.'s profits dropped by more than $5 million during the quarter ended 30 June, 2010, the first quarter of fiscal 2011, according to a filing to the Bermuda Stock Exchange.

The company reported a net income of $8.9 million for the quarter compared to $14.6 million for the same period in 2009.

Its operating income of the financial services division for the quarter ended June 30, 2010 amounted to $6.3 million versus $11.3 million last year.

Earnings per share for the quarter ended 30 June, 2010 were nine cents compared to 17 cents in 2009.