International Personal Finance PLC - Leeds, England-based company which offers small, unsecured cash loans - Posts 20% fall in revenue to GBP399.5 million in the nine months to September 30 from GBP517.0 million a year ago. Swings to pretax profit of GBP59.8 million from a loss of GBP41.7 million. Books an impairment of GBP28.3 million, plummeting from last year's GBP218.9 million. Customer numbers flat at 1,715.
Looking ahead, company says: "There is significant long-term demand for affordable credit from this group of consumers in all our markets and we will continue to execute our rebuild strategy by continuing to serve our customers safely, progressively and responsibly, increasing credit issued and growing the receivables portfolio while maintaining a clear focus on portfolio quality and costs."
Current stock price: 124.00 pence, down 2.7%
Year-to-date change: up 52%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Inter. Pers. (IPF)