£600m refinancing deal agreed as S&U hits record receivables

Solihull-based specialist financier S&U has agreed a new £600m refinancing deal to fund further growth, as half-year revenue rose 11% to £57.3m.

The group, which owns motor finance business Advantage Finance and property lender Aspen Bridging, posted profit before tax of £15.7m for the six months to 5 August, broadly flat on the £15.6m recorded a year earlier.

Group net receivables rose 26.8% to a record £541.0m, driven largely by growth at Advantage, where advances jumped 48.7... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...