5th Feb 2014 08:45
LONDON (Alliance News) - Consumer loan specialist S&U PLC Wednesday said it is trading in line with market expectations, after a busy Christmas period gave a boost to its home credit and motor finance businesses.
In a statement ahead of its full-year results, the company, which through Loansathome4u provides small loans at interest rates that go into triple digits, said its home credit division had "very satisfactory" Christmas trading, with advances "just under 10% above last year". S&U said delinquency has "slightly improved" on last year.
"We continue to purchase small but high quality home credit businesses and plan to expand our network of branches still further in the coming financial year," S&U said in a statement.
Meanwhile, its motor finance business, Advantage, had a "record year", reporting its "best ever" Christmas and January sales and collections, with customer numbers almost 25% higher on last year at just over 18,000.
"As the employment market recovers, and consumer confidence returns, we view the future with enthusiasm and confidence," Anthony Coombs, chairman, said in a statement.
The company also said it intends to recommend a final dividend of "at least" 20 pence a share. A 20p final dividend would match last year's final dividend. Its interim dividend has been previously declared at 16p a share, up 4p on last year.
S&U will announce its results for the year ending January 31 on March 25.
S&U shares were Wednesday quoted at 1,804.00 pence, up 0.5%, Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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