Following a considerable hike in profits last year, Private
& Commercial Finance has raised more than £0.5m from a share
issue this month.
Post-tax profits at the AIM-listed business and consumer finance
lender grew in the year to September 31 2007 from £26,000 to
£310,000, largely because of increases in business volumes and
conservative credit management.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The share issue, which took place on March 18, of 2,550,000
ordinary shares brought its total number of placed shares to
28,510,346.
P&CF, well known for its e-quote management system,
increased portfolio receivables by 23 per cent in the year to
September 31 2007 to £134m, while turnover rose by £4.8m to reach
£23.4m, admin expenses declined by £200,000 to £4.1m and earnings
per share reached 1.2p against 0p the year before.
The company announced last year that it is on the acquisition
trail and plans to widen its range of financial products.
