Profits rise at Impact Holdings

SPECIALIST lender Impact Holdings has seen earnings increase despite lower revenues.

Impact, which is based in Manchester, offers short term loans to property and legal markets.

In the year to March 31 pre-tax profits rose 11.6% to £324,464 on turnover of £1.67m, down 18%.

Chief executive Paul Davies said the group had focused on improving the risk management, operational and financial controls within the business.

“This has resulted in a period of controlled organic growth and the group is pleased to report an 11.6% increase in profits in what has probably been the most challenging and uncertain economic environment seen in recent times,” said Mr Davies.
 
“This performance is a credit to the management and staff, who have collectively worked with commitment and resilience to deliver this performance.”

Impact’s main business is based around funding payouts in personal injury cases. Two years ago it opened a new division to fund property deals but it is limiting new business until “normality” returns to the economic markets.

In December Impact completed the £800,000 acquisition of Edinburgh-based Sutherland Professional Funding which it said would create cross-selling opportunities and provide further funding lines.