All articles by Verdict Staff
Verdict Staff
Massive hike in profits at P&CF despite crunch
Massive hike in profits at P&CF despite crunch Private & Commercial Finance Group (P&CF) has bucked the recent downward trend of some lessors and last month reported a good years trading for the 12 months to March 31 2008. It reported an increase in pre-tax profits to £934,197 (15 months to March 31 2007: £388,748), finance receivables net of unearned income up 46 per cent to a record level of £132m (31 March 2007: £90.5m), and turnover up some 30 per cent on an annualised basis to a record £51.7m. During the year P&CF agreed additional funding lines with Kaupthing Singer & Friedlander, and two other new lenders, which totalled in excess of £25m.