Revenue up to £161.5m for Arrow Global

MANCHESTER-based purchaser and manager of debt Arrow Global has seen revenue climb 37% to £161.5m and underlying net income rise 23.7% to £29.1m.

In the nine  months to September 30, asset management revenues also rose to £31m following the successful integration of the listed company’s Vesting Finance business.

Several weeks ago Arrow Global was reported by US sources to be drawing interest interest from private equity companies, including Apax Partners.

Group chief executive Tom Drury said: “Arrow Global continues to expand its European footprint and client offering across attractive markets where the Group is targeting leadership positions.

“This coupled with a high-quality and diversified investment portfolio, has enabled us to achieve another strong set of results.

“During the period, we saw good opportunities to invest and increased organic portfolio loan acquisitions for the year to £119.3m, of which 51% were in mainland Europe.

“This excludes the Netherlands deal we announced in September that will see us co-invest €25m in underlying loan assets of €1.7bn from RNHB Hypotheekbank, which we expect to complete later in the year.”