S&U increases its 2016 full year dividend by 19.7%

DividendMax Ltd.

S&U increases its 2016 full year dividend by 19.7%

Key Financials:

Profit before taxation from continuing operations up 29% at £25.2m (2016: £19.5m)

Basic earnings per share from continuing operations up 28% at 170.7p (2016: 133.6p)

Revenues up 34% at £60.5m (2016: £45.2m)

Proposed final dividend up 6p to 39p (2016: 33p); total dividend in respect of the year increased to 91p (2016: 76p)

Strong balance sheet:

o Net receivables increased by 33% to £193.5m (2016: £145.1m)

o Investment in motor finance increased yearend net borrowings to £49.2m (2016: £11.9m)

o Committed funding facilities increased to £95m post yearend giving significant headroom

Advantage Motor Finance Operational Highlights:

17th successive year of record pre-tax profits which rose to £25.2m (2016: £20.4m)

Annual collections up 33% this year with live customers up 32% on prior year

Annual advances up 31% this year - buoyant but more competitive market

20,042 new agreements from over 750,000 motor finance applications.

Anthony Coombs, Chairman of S&U plc commented:

"S&U continues to go from strength to strength with our motor finance business delivering its 17th successive year of record pre-tax profits. This excellent track record is testimony to the dedication, expertise, drive and wisdom of our team at Advantage. The road to sustained success is not made up of a giant leap but of a thousand small steps, and this kind of approach will continue to sustain and dynamise our business over the next decade." 

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