Thursday, December 19, 2013
Advantage Finance backed for more
Advantage Finance has shown continued growth in its customer base since August according to a statement given to the stock exchange by parent company credit firm S&U.
Working to a financial year which ends 31 January, the company said growth reported in September had continued to December.
Intending to make Advantage one of the UK's leading lenders, S&U has put £7m into the non-prime hire purchase operation between February and July this year.
In addition, the motor finance unit has now been given an extra £15m in new banking facilities, in a sign of S&U's confidence in its future.
Investment bank Canaccord said it expect the end-of-year results at S&U to be "impressive" and expects the earnings per share to be 29% higher this year than forecast.
DATED: 19.12.2013
FEED: MF
