International Personal Finance: Trading To Date Ahead Of Plan

23rd Jun 2010 07:37

LONDON (Dow Jones)--U.K. lender International Personal Finance PLC (IPF.LN) Wednesday said trading in April, May, and for the year to date has been ahead of plan after its second quarter performance benefited from the reversal of impairment charges taken during the weather-stricken first quarter. The company, which provides small-sum doorstep loans in Eastern Europe and Mexico, said it hasn't been affected by the economic uncertainty from the Greek sovereign debt crisis, and that its Hungarian business is making "good progress." However, the lender said it is keeping its cautious credit controls, particularly in Romania, where the government has cut public sector pay and pensions. IPF said that, while there are two full weeks left in its first half, trading in the first three weeks of June was in line with its expectations. These expectations weren't provided, but analysts expect IPF to post 2010 pretax profit of GBP85.7 million on revenue of GBP620 million, according to FactSet. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] (END) Dow Jones Newswires June 23, 2010 02:37 ET (06:37 GMT)