3rd Jan 2014 08:59
LONDON (Alliance News) - Arrow Global Group PLC Friday said its results for the year ended December 31, 2013 are in line with management's expectations.
The debt collection company said the results include delivering its target of GBP100 million in portfolio purchases for the year, and the company sees a strong pipeline of portfolio acquisition opportunities in the coming year.
For the nine months ended September 30, Arrow posted a pretax profit of GBP17.7 million, up from GBP9.5 million a year before, and revenue of GBP70.1 million, up from GBP47.2 million in the previous year.
The company raised GBP42 million at its initial public offering on October 8, which it said it intended to use for portfolio acquisitions.
Arrow Global shares were up 0.4% to 263.00 pence Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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