28th Sep 2021 12:05
S&U PLC - motor finance & bridging lender - Triples half-year profit amid lower impairment charges and a greater number of loan transactions and advances. Posts a pretax profit for the six months ended July 31 of GBP19.9 million, tripled from GBP6.3 million a year before. Growth is attributed to a 23% increase in loan transactions to 9,700 and loan advances up 35% at GBP68.3 million. Revenue is marginally lower than a year before at GBP42.8 million. S&U declares first interim dividend of 33 pence, up 50% from 22p year before.
"The Covid induced tribulations of the past year have seen S&U emerge more profitable, more competitive and more attuned to our customers' needs," says Chair Anthony Coombs.
"Add to that the buoyant markets in which we operate, our strongest ever financial base and our loyal and committed workforce, and prospects for the future are bright indeed."
Current stock price: 2,770.00 pence
Year-to-date change: up 23%
By Will Paige; [email protected]
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