Dear visitor,
You're reading 1 of your 3 free news articles this quarter
Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.
Join the UK's leading credit and lending community in less than 60 seconds.
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.
Editor at Credit Strategy. Previously held roles at Accountancy Age, Accountancy Daily and the Leicester Mercury.
Editor at Credit Strategy. Previously held roles at Accountancy Age, Accountancy Daily and the Leicester Mercury.
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.”
Stay up-to-date with the latest articles from the Credit Strategy team
ENJOY READING?
Member of
Get the latest industry news
Permission Statement
