S & U PLC
10 February 2000
S&U PLC - ADVANTAGE FINANCE LTD
S&U PLC reports that its new start-up subsidiary Advantage
Finance Ltd, launched in July 1999, which provides Hire
Purchase Finance for second hand cars, although budgeted
to make a loss for the period ended 31st January 2000, is
currently breaking even on a day-to-day basis. It is
expected to make a meaningful contribution to group
profits in the half year to end July 2000 with a
significant contribution thereafter.
Chairman Derek Coombs, who was responsible for introducing
Advantage into S&U, said today: 'This is the start of the
most exciting development for S&U for over ten years and
we expect that this new enterprise will play an
increasingly important role in the growth of the company'.
S&U's annual results will be announced towards the end of
April.
Issued by: Simon Preston - Tel: 0171-353 8906