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Cabot EBITDA up 18 percent in 2018

Debt purchaser Cabot Credit management saw its servicing revenue rise 104 percent from £40.2m to £82m in the year to December 31, 2018.

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Adjusted earnings before income tax, depreciation and amortisation (EBITDA) rose 18 percent from £295.2m to £349.8m over the same period.

 

Estimated remaining collections rose 13 percent from £2.4bn to £2.7bn, while debt purchase collections rose 11 percent from £407.5m to £453.5m.

 

During the year, Cabot concluded the transaction with Encore Capital to become a wholly-owned subsidiary.

 

Ken Stannard, chief executive officer at Cabot, said: “During this year our company has delivered another strong operating performance and has maintained capital management discipline in a competitive market. We deployed £333m of capital during the year at consistent return levels.

 

"Compared to 2017, our servicing revenues have grown by £42m and we have delivered adjusted EBITDA of £350 million for the year while reducing our leverage to 4.1 times.”

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