Fairpoint diversification plan continues

LANCASHIRE’S Fairpoint Group, which provides debt advisory services to people in financial trouble, has said its plan to diversify continues, with first quarter trading in line with expectations.

The Chorley-based group said ahead of its annual general meeting being held later today that overall group trading has been in line with market expectations during the historically quieter first four months of 2013.
 
It added that good progress continues on the diversification agenda, with the group`s claims management activities “performing well” and that it had successfully integrated the DMP book acquisitions announced in March of this year.

However, Fairpoint said that market conditions for its core debt products remain challenging with the overall market volume of IVAs originated in the first quarter of 2013 in England and Wales falling by 5% compared to the same quarter last year.