Financial Highlights
Revenue up 7% to £28.6m (H112: £26.8m)
Profit before taxation up 20% to £8.8m (H112: £7.3m)
Basic Earnings per share up 20% to 56.6p (H112: 47.1p)
First interim dividend increased by 17% to 14p (2012: 12p)
Operational Highlights
50% increase in motor finance advances
Rigorous underwriting standards maintained and approval rate stable
Record motor finance collections performance
Improved cash generation from Home Credit in a subdued market
Pre-paid debit card for Home Credit customers successfully launched
A further £7m invested in motor finance with group gearing still historically low at 39% (2012: 33%)
Anthony Coombs, Chairman of S&U, commented:
"As the economy gradually recovers these results reflect the very significant opportunities emerging in the specialist markets we serve. By maintaining our focus, drive and dedication to our customers, we look to the future with great confidence."
