12th Oct 2015 17:25
Arrow Global Group PLC
("Arrow" or "the Company")
Trading Update for the period ended 30 September 2015
The Board of Arrow Global Group PLC ("the Company") is pleased to announce a trading update for the period ended 30 September 2015.
This trading update is being made concurrently with an announcement regarding the proposed placing by a group of Directors, employees and former employees of Arrow following the expiry of the two year IPO lock-up agreement.
Trading update:
• Acquired debt portfolios for an aggregate purchase price of £97.1 million with a strong Q4 pipeline of which £23.1m is in final implementation
• Investments were split 51% UK and 49% mainland Europe and are in line with target returns
• 120-month ERC up 6.0% to £1,151.1 million at 30 September 2015 (31 December 2014: £1,085.4 million)
• 84-month ERC up 6.4% to £955.1 million at 30 September 2015 (31 December 2014: £897.3 million)
• We expect overall full-year earnings to be in line with our expectations and remain confident in our future growth prospects
Our quarterly results will be announced on 26 November 2015.
Arrow Global |
+44 (0)161 242 5896 |
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Tom Drury, CEO Robert Memmott, CFO Alex Barnett, Corporate Communications |
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Instinctif | +44 (0)20 7457 2020 |
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Mike Davies
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This announcement contains certain forward-looking statements with respect to certain of Arrow Global's current expectations and projections about future events. These statements, which sometimes use words such as "intend," "proposed," "plan," "expect," and words of similar meaning, reflect the directors' beliefs and expectations and involve a number of risks, uncertainties and assumptions (including the completion of the transactions described in this announcement) that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement. Statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this announcement is subject to change without notice and, except as required by applicable law, we do not assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained in it. Readers should not place undue reliance on forward-looking statements, which speak only as at the date of this announcement. No statement in this announcement is or is intended to be a profit forecast or profit estimate or to imply that the our earnings or other measures of performance for the current or future financial years will necessarily match or exceed our historical or published earnings or other measures of performance.
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