growth
The results show a 10 percent increase of gross receivables for
business finance over the six months leading up to 30 September, to
a value of €103 million.
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The company’s overall portfolio – which also includes consumer
finance – saw an all-over increase of 5 percent to €216
million.
The difference is because of an increasing focus on business
finance activities over the past 18 to 24 months, according to a
spokesperson.
When results are published on 16 December, they are also
expected to show a 15 percent increase in profit before tax
compared to the year leading up to 30 September 2007.
CEO Tony Nelson put this increase down to a reduction of new
business volumes last year.
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By GlobalData“With demand for our services significantly exceeding supply, we
have been able progressively to tighten our lending criteria and
further increase margins,” he said.
Earlier this year, PCFG drew down a three-year, €25 million
facility from Kaupthing Singer & Friedlander.
The company does not, however, expect the fate of Kaupthing to
have “any material effect” on plans for the next year.
