4th Dec 2019 11:13
(Alliance News) - PCF Group PLC on Wednesday said it is "well-placed" to deliver its strategic objectives following double-digit earnings growth in its most recently ended financial year.
The AIM-listed bank delivered pretax profit of GBP8.0 million for the year to the end of September, up 54% compared to GBP5.2 million a year ago, as net investment income grew by more than a third to GBP21.6 million from GBP15.0 million.
PCF reported portfolio growth of 55% to GBP339 million from GBP219 million year-on-year.
Meanwhile, the company said it continued investment for the future through the recruitment of new staff and by making technology enhancements to promote efficiencies and meet the needs of our customers.
"We continue to strengthen the bank's foundations for sustainable growth by investing in our operational platform, governance framework and recruiting talent at all levels of the business," said Chair Tim Franklin.
"While the year ahead may see some weakening of wider economic activity, we feel we are well placed as a specialist bank to deliver our strategic objectives and provide strong shareholder returns," added Franklin.
PCF shares were trading 0.4% higher in London on Wednesday at 36.15 pence each.
By Evelina Grecenko; [email protected]
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