Private & Commercial Finance Group (PCFG) has announced that
its trading results for the six months leading up to September 30
will “not fall below expectations”.
In the year ending at the start of this six month period on
April 1, PCFG’s business finance division had written £36.7 million
(€41 million) of new business, and held a portfolio of £70.6
million via some 7,256 customers.
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According to the group, provisions for defaults stand at 5.9
percent of total portfolio, but are to be mitigated via the raising
of £390,000 through convertible loan notes in August, and a further
£1.35 million through a share placing in September.
The company’s full report will be released on December
15th.
Fred Crawley
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