29 Apr 2010 07:00
PCF.L / Index: AIM / Sector: Speciality & other finance
29 April 2010
Private & Commercial Finance Group plc ('PCFG' or 'the Group')
Trading Statement
The Directors of PCFG, the AIM quoted finance house, are pleased to announce that:
·; The Group's results for the year ended 31 March 2010 will be released on 29 June 2009
·; The results are expected, subject to audit, to be in line with market expectations
·; Our portfolio of receivables, which is well spread over 19,400 customers, performed well through the recession and maintained an improving trend during the quarter ended 31 March 2010
·; Management are pleased with the quality and margins we are achieving on new business originations
CEO Scott Maybury said, "Our products are very much in demand thanks to reduced competition within our sector, however the availability of senior debt funding limits our ability to take advantage of the current favourable conditions. We remain highly selective in our underwriting and focused on improving margins to ensure that our portfolio of finance receivables is well spread and of robust quality."
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For further information visit www.pcfg.co.uk or contact:
| Private & Commercial Finance Group plc | Tel: 020 7222 2426 |
| Scott Maybury |
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| Hanson Westhouse Limited (Nomad) | Tel: 0113 246 2610 |
| Tim Feather |
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| Daniel Stewart & Co. (Broker) | Tel: 020 7776 6574 |
| Martin Lampshire |
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| St Brides Media & Finance Ltd | Tel: 020 7242 4477 |
| Felicity Edwards |
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Notes to Editors:
Private & Commercial Finance Group plc, which is authorised and regulated by the Financial Services Authority, is an independent AIM quoted finance house with assets exceeding £120 million.
Private & Commercial Finance Group plc is the parent company of a group of specialist companies engaged in the provision of finance for vehicles, plant and equipment for consumers and businesses.