Business
Half-year Report
Half-year Report.
About this update from S&u Plc
[{"type":"text","content":"\n \nRNS Number : 7665R S & U PLC 26 September 2017 \n\n 26 September 2017\nS&U PLC\n(\"S&U\" or the \"Group\")\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 31 JULY 2017\n17 consecutive years of increasing profits in motor finance \nS&U, the specialist motor finance and bridging lender, today announces its interim results for the six months ending 31 July 2017. They reflect a 17th consecutive year of increasing profits in hire purchase motor finance and maintain its record of strong and sustainable growth.\n \nFinancial Highlights\n· Profit before tax: £14.3m - up 20% on last year (H1 16: £11.9m)\n· Earnings per share: 96p (H1 16: 79.2p) - up 21%\n· Revenue increased by 33% to £37.6m on receivables up 31% to £228.6m\n· Gearing at July 17 is 56% (July 2016: 29%) as £32m invested since year end\n· First interim dividend increased to 28p per share (2016: 24p per share)\n \nOperational Highlights\n· Record Advantage motor finance new agreements in first half at 12,542 (up 21%) with initial quality score up on last year\n· A conservative transaction rate of 3% of over 440,000 applications\n· Increase in 12 month rolling impairment to 22.7% from 20.1% at year end, primarily due to overall portfolio product mix\n· ...