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Arrow Global profit increased by 28 percent in full year results

Debt purchaser Arrow Global saw its profits before tax increase by 28.3 percent, its annual results show.

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Its gross asset management and servicing income was up 5.9 percent to £140.1m, which is 36.4 percent of its gross total income. Free cashflow was 13.3 percent to £261.4m.

 

The full year dividend was up 3.1 percent on 2018, and leverage reduced to 3.4x, and is continuing to reduce, it said.

 

The results showed a record of £307.7m of additional investment.

 

Lee Rochford, group chief executive, said: “The business performed well against its key operating metrics in 2019, with returns in the investment business remaining strong and improving margins in our asset management and servicing business. The launch of our fund management business is transformational for the group.”

 

In 2019, Arrow Global launched a fund management business, AGG Capital Management, which launched with €838m (£743.6m) in initial funds under management, which continues to target €2bn of funds under management by the end of 2020.

 

Estimated remaining collections for the next 84-month period is at £1.8bn, which is an 11 percent growth on last year. For the next 120 months, estimated remaining collections are £2bn, which is a 3.2 percent growth from last year.

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