SOLIHULL finance company LaSer UK has smashed through its £1bn lending target – doubling the size of its business in three years.
The company, which operates a range of credit and loyalty schemes including credit cards, store cards, gift cards, loyalty programmes and point of sale loans to major national brands including DSGi, Flybe, DELL, Dreams and DFS, has seen consistent levels of activity throughout the summer.
This has seen the firm top £100m in sales for the second month in a row, resulting in a 40% growth on last year.
LaSer UK employs over 450 people in Solihull and 150 in Belfast, operating under the consumer trading names Creation Consumer Finance, Creation Financial Services and Sygma Bank UK.
It has benefited from a succession of new business wins, including the appointment as sole supplier of fixed term credit to DSGi, the international electrical retailer whose portfolio of 670 stores includes Dixons.co.uk, Currys and PC World.
Stephen Hunt, chief executive at LaSer UK, said: “We forecasted we would go through the £1bn milestone towards the end of 2010, but the outstanding summer of new business wins and product launches has enabled us to beat our own forecasts a full four months ahead of schedule.
“We are now reaping the benefits of the hard work of the last three years, which have seen us develop industry-leading solutions and an outstanding team of people across all areas of our business – attracting the strong backing of UK retailers.”
The company is planning to create 120 new jobs in the West Midlands this year to cope with the growth in business. It is also looking to continue developing new products and services with the aim of doubling the size of its business once more.
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