Ultimate Finance Group posted profits before
tax of £191,000 (€214,000) for the six months ending December 2009,
36 percent up compared to one year before.
Client turnover for the period also increased
from £99 million to £148.5 million, the AIM-quoted factoring and
invoice discounting provider said.
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The company is financed with a £25 million
back to back financing arrangement with Lloyds TSB Commercial
Finance, which is in place until July 2012.
The company’s chairman Clive Garston
commented: “Whilst the economic climate remains tough, demand for
our services is growing and we will continue to take the necessary
steps to build solid sustainable shareholder value from the
opportunities that present themselves.”
Antonio Fabrizio
