26th Aug 2026 11:46
(Alliance News) - S&U PLC on Wednesday noted sustained growth in its second quarter, affirming the company's confidence in "future profitability".
The Solihull, England-based lender, which is focused on motor finance and property bridging, said capital receivables stand at GBP616 million, as of August 5, up 20% from GBP512 million a year earlier.
"Debt quality remains strong with up-to-date receivables at Advantage, our motor finance business, at 73% of the book against 69% last year. At Aspen our property financier, late payers are well within budget," S&U continued.
In Advantage Finance, year-to-date deal numbers are up 50% on-year, with capital receivables standing at GBP408 million. S&U expects growth to be noticeable in the second half and in 2027/28. The company is also developing a new "dynamic pricing tool" which it plans to roll out for this part of the business.
Meanwhile the property unit Aspen, has seen "slower growth", thanks in part to a subdued property market, according to S&U.
At August 5, total group borrowings amounted to GBP285 million compared with GBP330 million of facilities. S&U plans to detail a "major refinancing and securitisation project" in September.
The company releases half-year results on September 29.
"S&U's steady performance reflects the strength of our business through varied economic conditions," said Chair Anthony Coombs.
Addressing recent changes in UK government, Coombs added: "We remain cautiously optimistic that a pro-growth approach will prevail. S&U will prosper regardless."
S&U shares were flat at 1,970.00 pence each on Wednesday morning in London.
By Holly Munks, Alliance News reporter
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