S & U "very pleased with the profits"
London, UK
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March 30, 2023 04:15 AM Eastern Daylight Time
S & U PLC (LSE:SUS) chairman Graham Coombs speaks to Proactive after releasing preliminary results for the year to 31st January 2023. Coombs says that he's "very pleased with the profits", that were the second highest in the specialist motor finance & bridging lender's 85-year history. He also gives his take on the outlook for the wider motor finance sector.
S & U PLC (LSE:SUS) increased its final dividend 5.3% and said current trading is good, with “very strong” demand for its products.
The owner of motor finance lender Advantage and property bridging lender Aspen declared a final dividend of 60p per share, up from 57p a year ago, taking the total dividend proposed to 133p, up 5.6% from last time.
Revenue came to £102.7mln in the year to 31 January 2023, up 17%, while profit before tax (PBT) came in at £41.4mln, which was down from £47mln the prior year.
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