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Half-year results at debt purchaser Arrow Global reveal that core collections have risen 15.2 percent to and adjusted EBITDA is up 16.8 percent.
Editor at Credit Strategy. Previously held roles at Accountancy Age, Accountancy Daily and the Leicester Mercury.
Profit after tax rose by £4.8m to £8.5m in the period to June 30, 2018, while it made portfolio acquisitions of £145.1m, up from £125.1m in the first half of 2017. The company added it is “on track” to deliver £230m to £240m of portfolio purchases.
Estimated remaining collections over the next 84 months stands at £1.62bn, 9.9 percent up on the £1.47bn at the same point last year. Over the next 120 months, the figure stands at £1.94bn, 14 percent up on the £1.7bn at the same point in 2017. Non-UK portfolio investments now represent more than 50 percent of estimated remaining collections, the company said.
Arrow Global group chief executive Lee Rochford said: “We believe we now have the optimal platform to position us well to generate strong earnings, cash flow and de-leveraging as we realise the full benefit of this footprint and the investments we have made to enhance efficiency.”
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