0 £0.00
This item was added to your basket
Search

Dear visitor,
You are viewing 1 of your 2 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 Q1 revenues up nearly 20 percent year-on-year

Debt purchaser Arrow Global saw its revenues rise 19.6 percent year-on-year in the three months to March 31 2018.


Calum   Fuller

Share on LinkedInShare on Twitter
Calum   Fuller
Share on LinkedInShare on Twitter

Revenues hit £77.1m, up from £64.5m in March 2017, while core collections rose to £86m, a rise of 11.6 percent from £77.1m the year before.

 

Underlying profit after tax was also up to £11.4m, a rise of 10.3 percent on the same point last year, when it made £10.3m. The purchaser’s estimated remaining collections over the coming 120 months stands at approximately £1.85bn, up from £1.6bn in Q1 2017, a change of £234.1m.

 

The figures do not include deals struck in March to acquire two separate Italian credit firms.

 

The first deal was for Europa Investimenti, a manager of Italian distressed debt investments, for an equity value of €62m (£54.7m). The second deal was for 100 percent of Parr Credit, a Rome-based servicer of Italian non-performing loans for an equity value of €20m.

 

The company said the integration of Parr Credit is “progressing well”, with the business performing in line with expectations, while the acquisition of Europa Investimenti is expected to close in in the second half of the year.

 

It added that over the course of the year, it is confident in meeting a portfolio purchase target of between £230m and £240m.

 

Lee Rochford, group chief executive, said: “The market dynamics of financial institutions increasingly looking to remove NPL portfolios from their balance sheets, and the trading of those assets in both the primary and secondary markets, continues to provide us with a clear runway for growth.

 

“I remain confident that we are favourably positioned to capitalise on future opportunities and we remain on track to deliver our financial targets for the year.”

Share on LinkedInShare on Twitter
Add New Comment
LoginRegister

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

CDSP Conference: Full agenda revealed

CDSP Conference: Full agenda revealed

Cabot EBITDA up 16 percent in first half of 2018

Cabot EBITDA up 16 percent in first half of 2018

Lloyds results reveal lower debt sales and recoveries

Lloyds results reveal lower debt sales and recoveries

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
We use cookies so we can provide you with the best online experience. By continuing to browse this site you are agreeing to our use of cookies. Click on the banner to find out more.
Cookie Settings