LONDON (Alliance News) - Private & Commercial Finance Group PLC Monday said the results for its last financial year are expected to be in line with market expectations, while it has increased its funding by GBP5 million through the negotiation of additional headroom on one of its existing facilities.
In a pre-close statement ahead of its results for the year to end-March to be published on June 10, the AIM-quoted finance company said the new funding deal takes its current total committed facility headroom to GBP14 million.
"The increased facility provides the group with adequate headroom and is one of several increases we are negotiating to support the growth of our portfolio," Chief Executive Scott Maybury said in a statement.
"In this regard, the portfolio continues to grow, new business credit quality has been excellent, and our return on average assets continues to increase," he added.
The stock was trading at 10.10 pence Monday morning, up 0.60 pence or 6.3%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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