0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter
Credit Strategy sections
Topics ▼
Topics ▼
Sections ▼
Shop for events
Shop for events
Search

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve made wider, important changes to our print and online content to enhance the value of exclusive, insightful, discerning content we create every day. Support valuable editorial content by becoming a member of our Credit Club - register for free or choose a paid plan.

Register now or Login

Arrow posts increase in profits, but operating costs rise too

Arrow Global has tripled its profit to £15m for the third quarter of this year, compared to a deficit of £6m for the same period last year.


Amber-Ainsley   Pritchard

Share on LinkedInShare on Twitter
Amber-Ainsley   Pritchard
Share on LinkedInShare on Twitter

 

The debt buyer’s latest accounts show its financial results for the three months ending September 30 2017.

 

Although Arrow’s profit has increased, its collections activity costs and operating expenses have also increased.

 

Collections activity costs recorded for the third quarter of this year were £33.4m, up from £20.8m for the same period last year. Its operating expenses reached £22.7m for this period, up from £17.9m the year before.

 

For the nine months ending September 30 2017, Arrow recorded a 30 percent increase in organic purchases of loan portfolios and notes to £155m, compared to £119m during the same period last year.

 

Core cash collections also grew to £244m for the nine months to September 30, compared £216m year-on-year.

 

Arrow said Zenith, an Italian servicing business it acquired in December 2016, is performing well and increasing the group’s Italian market expertise.

 

The debt buyer said its focus for the final quarter of 2017 remains to be on strong returns, financial and operational excellence, and high growth.

 

Lee Rochford, group chief executive of Arrow, said: “In the first nine months of the year, Arrow continued to grow strongly and profitably. We are on track to meet our guidance of completing total purchases of approximately £200m by the year end.

 

“The capital light asset management business has also seen excellent growth, and we expect this to continue into 2018 following the close of the acquisition of Mars Capital later this year.”

 

He said Arrow is efficiently executing its strategy of diversifying by geography, asset class and revenue stream.

Share on LinkedInShare on Twitter
Add New Comment
LoginRegister

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Barclays customers now able to “switch off” certain spending

Barclays customers now able to “switch off” certain spending

Link Asset Services acquires Dutch mortgage broker FlexFront

Link Asset Services acquires Dutch mortgage broker FlexFront

Hospitality sector suffers most company failures

Hospitality sector suffers most company failures

Upcoming events

ENJOY READING?

20/20 vision: How Credit Strategy is marking 20 years of representing credit
Rise of the machines
Cultural evolution: How utilities firms overhauled their approach to vulnerable customers
Standing their ground: Amid increased scrutiny from both MPs and regulators, BrightHouse is a lender very much under the microscope.
Opening the vaults: As Open Banking begins, are consumers, banks and third parties taking advantage?
Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group