asa international said wednesday that it no longer sees profits growing in 2023 when compared with 2022 levels as expectations havent materialized in the year to date the londonlisted microfinance company said the change in forecast was due to its nigerian operations being hit by recent elections and demonetization taking longer than expected as well as a steep rise in fuel costs in the country the company also attributed the change in expectations to a slowerthanexpected recovery of overdue and writtenoff loans in india as well as higherthanforecast devaluations of operating currency in several other countries however while inflation and related foreignexchange movement is affecting the company it said its operating environment for clients has improved and is expected to continue doing so