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Debt purchaser Arrow Global’s core collections increased 18.2 percent on the same period last year to £288.5m, its results for the third quarter of 2018 show.
Editor at Credit Strategy. Previously held roles at Accountancy Age, Accountancy Daily and the Leicester Mercury.
The company’s adjusted EBITDA was up 28.8 percent, while underlying profit after tax increased 10.2 percent to £42.9m. Profit after tax increased 28.4 percent to £20.5m.
Estimated remaining collections over the coming 120 months now stands at £1.9bn, up 16.5 percent on £1.69bn at the same point last year.
It has also completed the acquisition of the Italy-based credit firm Europa Investimenti, which it said “marks the successful scaling of our European platform with the primary focus now on organic growth”.
Lee Rochford, group chief executive of Arrow Global, said: “I am delighted that our successful diversification of the business continues to bear fruit. Our Investment Business continues to thrive, with growing volumes and our highly disciplined approach generating resilient cashflows and unlevered returns ahead of our mid-teens target.
“Our AMS Business continues to flourish and its strong growth contributes to an improving diversification and quality of earnings.
“In combination, our two operating segments are generating a strong increase in earnings and cashflow at very attractive returns and we remain confident in delivering our targets for the year.”
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