19 Oct 2010 07:00
PCF.L / Index: AIM / Sector: Speciality & other finance
19 October 2010
Private & Commercial Finance Group plc ('PCFG' or 'the Group')
Trading Statement
The Directors of PCFG, the AIM quoted finance house, are pleased to provide an update on trading following the end of the half year on 30 September 2010.
The Group's results for the six months ended 30 September 2010, which will be released on 14 December 2010, are anticipated to be in line with market expectations.
CEO Scott Maybury said, "New lending opportunities continue to be plentiful, however, the availability of new or increased senior debt facilities continues to hold back the growth potential of the Group. While credit markets remain tight, our focus will be on underwriting good quality business at improved margins and this, in conjunction with an improving arrears performance underpins the profitability of our portfolio. We have committed bank facilities in place but will continue to seek strategic funding alliances or access to a significant debt facility to fully capitalise on the current opportunities in our sector."
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For further information visit www.pcfg.co.uk or contact:
| Scott Maybury | Private and Commercial Finance Group plc | Tel: 020 7222 2426 |
| Tim Feather | Westhouse Securities Limited | Tel: 020 7601 6100 |
| Matthew Johnson | Westhouse Securities Limited | Tel: 020 7601 6100 |
| Martin Lampshire | Daniel Stewart & Company plc | Tel: 020 7776 6550 |
| Felicity Edwards | St Brides Media and Finance Ltd | Tel: 020 7236 1177 |
Notes to Editors
Private & Commercial Finance Group plc, which is authorised and regulated by the FSA, is an AIM-quoted finance house.
PCFG has two main operating divisions: Consumer Finance - which provides a range of specially tailored finance products for consumers and Business Finance - which finances vehicles, plant and equipment for SMEs. The Group has a highly efficient and scalable business model, utilising its specially developed internet-based proposal system to service national networks of brokers. This allows it to handle a large volume of proposals extremely quickly with proportionately low costs.