0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

Cabot EBITDA up 15 percent in first six months

Credit services firm Cabot Credit Management saw its estimated remaining collections over 120 months rise nine percent, its results in the six months to June 30, 2019, show.

Share on LinkedInShare on TwittereCard

Its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 15 percent from £163.4m at the same point last year to £187.1m.

 

Debt purchase collections came to £236.5m in the first six months of 2019, up seven percent at the same point in 2018.

 

The business managed to reduce its leverage from 4.2x to 3.8x, the results show.

 

In June, the company issued a €400m (£356.3m) senior secured floating rate notes bond which is due to mature in 2024.

 

Ken Stannard, chief executive of Cabot, said: “Cabot has delivered another strong set of results for the period to June 30, 2019 with our adjusted EBITDA increasing 15 percent compared to 2018 as a result of our market leading operation in the UK, improving market conditions, and continued demand from leading financial services institutions for our range of credit management services.”

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

Upcoming events


Credit Summit


Credit Awards


FSE - Week

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group