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Moorcroft profits down in 2018 despite increase in revenue

Debt collection agency Moorcroft Debt Recovery’s latest accounts show its profits fell slightly in 2018, despite a marginal increase in revenues.

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Its accounts to the year ended July 31, 2018, filed with Companies House, show its profit before tax was around £3.6m, down from the £4m it made before tax the year before.

 

Its revenue in the same period was around £29.2m, up from £28.4m in the year to July 31, 2017.

 

The lion’s share of the agency’s income – £26.4m – came from commissions, with the remaining £2.7m from purchased loan portfolios in the year to July 31, 2018.

 

In terms of debt purchased in 2018, Moorcroft’s filings show it spent £3.5m on new portfolios over the year, down from the £4.5m is spent in 2017.

 

Net assets stood at approximately £13.8m in 2018, up from £12.8m in 2017.

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