S & U PLC (LSE:SUS) chairman Graham Coombs speaks to Proactive after releasing preliminary results for the year to 31st January 2023. Coombs says that he's "very pleased with the profits", that were the second highest in the specialist motor finance & bridging lender's 85-year history. He also gives his take on the outlook for the wider motor finance sector.
Here's the earlier story:
S & U PLC (LSE:SUS) increased its final dividend 5.3% and said current trading is good, with “very strong” demand for its products.
The owner of motor finance lender Advantage and property bridging lender Aspen declared a final dividend of 60p per share, up from 57p a year ago, taking the total dividend proposed to 133p, up 5.6% from last time.
Revenue came to £102.7mln in the year to 31 January 2023, up 17%, while profit before tax (PBT) came in at £41.4mln, which was down from £47mln the prior year.
Contact Details
Proactive UK Ltd
Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
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S&U plc is a United Kingdom-based motor finance and specialist lender. The Company's trading subsidiaries include Advantage Finance Limited (Advantage Finance) and Aspen Bridging Limited (Aspen Bridging). Advantage Finance is a motor finance company in the United Kingdom. Advantage Finance is focused on the non-prime used car market. Advantage Finance operates in the used car sector offering loans of up to £15,000 on a hire purchase (HP) basis. It accesses its market through over 40 Internet and dealer introducer brokers, direct to dealers and through re-finance from customers. It is focused on the non-prime section of the market lending to working customers to meet their requirement for cars for work and for family purposes. Aspen Bridging caters for the short-term refurbishment and residential markets. Aspen Bridging lends up to £10m per deal with an average loan of £900,000.