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Delivering profitable growth |
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Profit before tax and exceptional items increased 11% to £47.1M - a record half-year profit |
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Strong underlying growth in profit before tax and exceptional items of 32% (£13.5M) offset by new market investment of £4.8M and £3.9M from weaker FX rates |
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Effective credit quality management - impairment to revenue ratio in target range at 28.2% |
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Further improvement in cost-efficiency - cost-income ratio improved to 38.4% |
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Top-line growth increased |
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7% increase in customer numbers |
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Credit issued growth of 13% |
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Strong increase in revenue of 17% |
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Continuing geographic expansion in current markets delivering growth |
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Approaching national coverage in Lithuania and Bulgaria |
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Mexico City progressing well |
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New market entry into Spain: trading planned early 2015 |
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Successful refinancing supports further returns to shareholders |
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Core Eurobond funding refinanced at half the rate of original 2010 issue |
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£50M share buyback progressing to reduce equity to receivables ratio to around 45% |
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Interim dividend increased by 10.5% to 4.2 pence per share |
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