Quarterly progress at International Personal Finance

23rd Oct 2013 08:18

- Third-quarter pre-tax profit up 19 per cent- Well placed for full-year- Progress made on expansion into Lithuania and BulgariaEastern Europe-focused home-credit business International Personal Financereported increased third-quarter profit and said it is well placed to achieve a good full-year performance in 2013.The FTSE 250 group said pre-tax profit increased by 19% to £32.5m for the quarter as customer numbers increased year-on-year by 4% to over 2.5m. Chief Executive Officer Gerard Ryan commented: "We have made good progress in the quarter with our expansion into Lithuania and Bulgaria and the further roll out of longer-term loans and preferential pricing for our best customers."Our third quarter trading performance was strong with increased revenue growth and we passed the 2.5m customer mark. We are well placed to achieve a good full year performance in 2013." The group extended its geographical footprint in Mexico with profit per customer increasing to £18 from £14 in the same quarter in 2012."We achieved this performance through delivering good credit issued growth, maintaining annualised impairment as a percentage of revenue in the middle of our target range and continuing to control costs," the group added. CJ