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Lowell results show income rise of £65m

Debt purchaser Lowell saw its cash income rise eight percent to £874m in the year to December 31, 2018, its latest full-year results show.

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Its cash EBITDA rose 10 percent over the year from £374m to £437m, while it made £408m in portfolio acquisitions in 2018, up from £387m in 2017.

 

Estimated remaining collections stands at £3.1bn, 12 percent up on £2.8bn the year before.

 

Lowell chief financial officer Colin Storrar said: “Our Results for 2018 reflect our growing maturity as a truly pan-European business, our scale and diversification allow us to be flexible across our markets, products and sectors: adapting our business to shifting markets and for greatest returns.

 

“We are making significant progress with our digitalisation programme: launching new consumer websites and rolling out robotics for repetitive administration – freeing colleagues to invest time where it is needed most – helping our customers and clients with more complex matters.”

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