Debt advisor boosts sales and earnings

A "significant" increase in the number of IVAs under management has led to a dramatic rise in turnover at ClearDebt in the six months to December 31.

Sales at the Timperley-based company rose by 75% to £3.97m, and earnings before interest, tax, depreciation and amortisation grew by 164% to £1.15m.

Despite this, higher finance  and amortisation costs relating to its recent purchase of the Relax Group's assets meant the company's pre-tax profits fell by 91% to £37,200.

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