25th Jul 2018 10:04
LONDON (Alliance News) - International Personal Finance PLC said Wednesday that lower new business investments, gains from stronger exchange rates, and reduced losses in the digital division led to a rise in first-half pretax profit.
The consumer credit provider recorded pretax profit of GBP56.5 million for the six months to June-end, up from GBP43.0 million in the year-ago period, on revenue of GBP418.9 million and GBP400.8 million, respectively.
Credit issued rose to GBP632.2 million from GBP616.0 million in the first half. The credit growth was led by IPF Digital and Mexico home credit businesses, offset partially by a 6% contraction in European home credit.
International Personal Finance declared an unchanged interim dividend of 4.6 pence per share.
It has retained its expectations of exceeding 2018 pretax profit consensus of GBP99.4 million by around 10% as a result of stronger-than-expected post-field collections in European home credit businesses.
Shares in the company were trading 4.3% higher at 218.00 pence each on Wednesday morning.
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