13th Feb 2015 08:37
LONDON (Alliance News) - Motor finance and home credit provider S&U PLC on Friday said it expects to report full-year results in line with market expectations, boosted by the performance of its Advantage Finance and Loansathome4u divisions.
S&U's financial year ended on January 31.
Advantage Finance, its motor finance subsidiary, is trading at record levels, the company said, with advances for the full year up 48% against the year before. It said credit quality remains high and said its live customer numbers have increased by more than a third year-on-year.
S&U also said it is making progress with its Loansathome4u home credit division, with customer numbers rising by around 10% year-on-year. Its weekly collections rose 12% and its credit availability is up 20% year-on-year, it added.
"On the assumption that the British political environment remains stable, and that regulation is therefore consistent and proportionate, we see every reason to believe that our commitment to treating our customers fairly across the Group and to giving them the best standards of service, will continue to reap appropriate rewards," said S&U Chairman Anthony Coombs.
Shares in S&U were untraded on Friday morning, having last traded at 2,120.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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