PCF.L Regulatory News (PCF)

RNS Number : 5863U

Private & Commercial Fin Group Plc

19 October 2010

 

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."

 

* * ENDS * *

 

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.

 

This information is provided by RNS

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