Advantage Finance’s parent company S&U reports
that in a slightly more competitive market Advantage “continues its
outstanding progress”.
The company issued an interim management statement
for the period from 1 February to 23 May, ahead of its AGM late
last week.
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The statement reveals that Advantage’s transactions,
revenues and collections are all above budget and employee
productivity is at record levels. Gross receivables are 11%
higher than last year and S&U maintains that these receivables
are “of better quality than ever”. As a result, impairment is
both below budget and the level of last year.
S&U also stated that further funds are being
invested in continuing to grow Advantage’s motor finance book.
S&U chairman
Anthony Coombs said: “In times of continuing uncertainty our focus on the service
we give every single S&U customer continues to reap dividends.
We look to the future with pragmatism and confidence.”
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