0 £0.00
This item was added to your basket
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

Cabot EBITDA up 15 percent in first six months

Credit services firm Cabot Credit Management saw its estimated remaining collections over 120 months rise nine percent, its results in the six months to June 30, 2019, show.

Its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 15 percent from £163.4m at the same point last year to £187.1m.

 

Debt purchase collections came to £236.5m in the first six months of 2019, up seven percent at the same point in 2018.

 

The business managed to reduce its leverage from 4.2x to 3.8x, the results show.

 

In June, the company issued a €400m (£356.3m) senior secured floating rate notes bond which is due to mature in 2024.

 

Ken Stannard, chief executive of Cabot, said: “Cabot has delivered another strong set of results for the period to June 30, 2019 with our adjusted EBITDA increasing 15 percent compared to 2018 as a result of our market leading operation in the UK, improving market conditions, and continued demand from leading financial services institutions for our range of credit management services.”

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Shortlists for Collections & Customer Service Awards and Utilities & Telecoms Awards 2019 revealed

Shortlists for Collections & Customer Service Awards and Utilities & Telecoms Awards 2019 revealed

Monzo launches ‘get paid early’ feature

Monzo launches ‘get paid early’ feature

FCA warns of “clones’” impact on firms and consumers

FCA warns of “clones’” impact on firms and consumers

Upcoming events

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