‘Disappointing’ IVA market fails to dent ClearDebt profits

DEBT management firm ClearDebt has reported a sharp rise in sales and earning in the year to June despite a sluggish individual voluntary arrangement (IVA) market.

The Timperley-based group said sales rose 18% to £9.2m while earnings, before interest, tax, depreciation and amortisation (EBITDA) grew 23% to £2.7m. Pre-tax profits jumped from £227,200 to £834,758.

It now has 13,000 clients but said there were "disappointing" numbers of new IVAs in the second half, however this was offset by a stronger perfor... For the full story register now for free or login below...