Arrow Global streaking ahead in Q1

DATA-driven debt recovery company Arrow Global is celebrating at strong start to 2015 in its results for the first three months, ended March 31.

Chief executive of the Manchester firm, Tom Drury, said Q1 was a strong period for the company.

Portfolio purchases were up 57.2% compared to the same quarter last year at £52.1m and the company remained “highly cash generative” with core collections increasing by more than 50% to £51.1m, and there was a 41% increase in adjusted EBITDA to £32.8m.

“We also made significant operational progress, reinforcing our market leadership in Portugal, with the formalisation of a strategic partnership with CarVal Investors and the acquisition of Whitestar and Gesphone,” he said

“In the UK, we continued to rationalise our servicer panel to ensure greater oversight against a backdrop of enhanced regulation, and also to drive synergies from the acquisition of Capquest in Q4 2014.

“Preparations for our FCA landing slot in Q3 this year remain a key focus. Aligned to this, we continue to develop and embed our customer-centric culture both internally and across our core servicer panel.

“We are on track to deliver overall full-year results in line with our expectations, with growth supported by good visibility in our origination pipeline. We have £79.9m of future investment already contracted, with £28.8m of this coming in the remainder of 2015.”