S&U, parent company of Advantage Finance, has said the motor finance company has continued to trade at record levels following the sale of its home credit division Loansathome4u.
In July, S&U revealed Advantage was in line for a multi-million pound windfall following the sale, which was completed in August.
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Since then, S&U said Advantage has been seen new applications, customer numbers, monthly collection levels, debt quality and profitability all hit record numbers. As a result, Advantage now has over 30,000 customers, up 28% year-on-year.
Anthony Cooms, S&U chairman, said: "Our excellent motor finance business is producing record results and operating in a general economic environment with the stability necessary to sustain strong consumer demand, thus providing balanced and sustained growth. We therefore continue to regard the future for S&U with great confidence."
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