Arrow Global revenue soars to £76.7m
DATA-driven debt recover company Arrow Global is celebrating revenues up nearly 50% to £76.7m in the six months to June 30 (H1 2014: £51.6m).
Adjusted EBITDA for the Manchester company was up 33.9% to£65.7m (H1 2014: £49m) with pre-tax profits up 21.1% to £16.4m (H1 2014: £13.6m).
The interim dividend will be 1.7p per share (H1 2014: 1.7p).
Its half year interim report highlighted a strong performance on purchasing – acquired debt portfolios for an aggregate purchase price of £75.4m in line with target returns
Acquisitions of Whitestar for €47.8mi and Gesphone for €8.1m, strengthened the company’s position in Portugal, diversifying its revenue streams and enhancing our servicing platform, it said.
Chief executive Tom Drury said: “The first half of 2015 has been another period of significant activity and growth for Arrow Global.
“We continue to make good progress in executing our strategy of delivering strong returns, built around European expansion and differentiated origination.
“We have continued to make acquisitions, including Whitestar and Gesphone in Portugal, diversifying our revenue streams and strengthening our mainland European servicing capabilities.
“In this area, we also entered into a five-year strategic origination and servicing agreement with CarVal Investors and have already secured our first master servicing contract.”
