Arrow Global upbeat on prospects
ARROW Global, the data-focused company which buys debt portfolios from banks, credit card firms and most recently the Government, and uses its technology to trace and recover owed money, says it is entering 2014 in good shape.
In a trading update following the end of its financial year to December 31, Manchester-based Arrow, which floated last autumn on the main market, said results for the year are “in line with management’s expectations including delivering its target of £100m portfolio purchases for the year.”
Based on Booth Street, where the company has around 120 staff, its trading update added: “Arrow Global sees a strong pipeline of portfolio acquisition opportunities ahead and starts the new financial year in a strong position.”
It is scheduled to announce its results on March 4. In November the company said it had seen strong growth during 2013, as earning in the nine months to September 30 rocketed 44.7% to £64.7m.
In an interview with TheBusinessDesk.com last month chief executive Tom Drury said Arrow Global was looking at a potential opportunity to acquire debt portfolios in the Netherlands – taking it to a third territory after the UK and Portugal.
