Positive Cashflow upbeat as earnings dip

LENDER Positive Cashflow Finance said it made a pre-tax profit of £652,000 on sales of £3.6m last year.

This is down from a profit of £780,000 and turnover of £3.3m in 2011.

The Manchester company, backed by private equity firm Infinity, provides funding for working capital, buyouts and restructuring to companies with turnover of between £100,000 and £10m.

In a statement it said it completed 78 loans over the year worth £14m, up from £12m the previous year. It employs 27 staff.

Managing director David Smith said: “We are delighted with our performance over the past year in such an uncertain economic climate. We have invested significant capital this year in two new offices in Birmingham and Basingstoke, which are now starting to deliver results, so to make such a healthy profit on top of this is a real bonus.

“This year we will be looking to continue to build on the well-established brand name in Manchester and develop the exciting opportunities in and around Birmingham and Basingstoke.”
 
Phil Chesham, sales and marketing director, said: “These results show that our model of building an ongoing relationship with our clients to really understand their funding needs does work. By providing companies with working capital, we can offer them the financial security and confidence necessary to move their business forward.”