Last week’s announcement of the 2013 results has demonstrated the resilience of the group, which has managed to produce yet another set of record results in its 75th year, comfortably exceeding forecasts. As the previous financial year comprised 53 weeks this is an even more impressive performance than it first seems.
Although the Home Credit division reported a small decline in profits, these were ahead on a like-for-like basis and the introduction of new products later this year should increase growth prospects at the business.
In the Motor Finance division, despite reporting 13 successive years of record profits, there is scope for yet further growth as the business gains market share and S & U is to invest £6m into this in the current financial year.
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