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September 26, 2013updated 12 Apr 2017 4:00pm

Syscap: Earnings up, loss down

Syscap has reported 16% year-on-year EBITDA (earnings before tax, depreciation and amortisation) growth for the year to 31 March 2013.

By Peter Johnstone

Syscap has reported 16% year-on-year EBITDA (earnings before tax, depreciation and amortisation) growth for the year to 31 March 2013.

The independent finance provider recorded £1.7m (€2m) EBITDA, while new business volume grew 3% to £125m.

The company recorded an operating loss of £709,000, 39% less than last year’s figures, but added a "continued focus on operational efficiency" had improved the EBITDA margin from 18% to 20%.

In a company statement the funder said: "Despite a further anticipated fall in income derived from secondary period rentals, the growth in origination income and vigilant control of operating expenses enabled the company to post improved financial results in FY13."

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