26 November 2014 – interim results
Finance group Private & Commercial has reported a 69% increase in pre-tax profits to £0.85m (2013: £0.50m) in the six months to 30 September, whilst diluted earnings per share rose by 50% to 0.6p (2013: 0.4p). The group’s loan portfolio has grown 9% to £94m (2013: £86m) and there was a 4% increase on new business originations to £28.3m (2013: £27.3m). These are more excellent results with significant improvements in both profitability and the quality of the loan book. The increase in the group’s loan book means that the amount of finance income attributable to future periods also continues to grow and the group now has £22.2m due to be recognised as income over the next three years – this will help to underpin profits and we continue to rate the shares as a BUY.