S&U shares up as its loans stay in demand over Christmas
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shares in the doorstep lender and motor finance group S&U rose more than 8 per cent yesterday, after it said results for the year which ended last month would "significantly exceed market expectations".
S&U, which supplies loans to more than 140,000 households, said demand in its Home Credit division had been good over Christmas and January. Meanwhile, the motor finance business, which trades under the Advantage Finance name, said it had overcome the traditional lull in the second-hand car market usually seen in the winter months, with the past two months showing a substantial increase over the previous year.
It has raised its targets for the year and predicts another record result. The group also said its balance sheet has improved, with gearing down to 35 per cent from 43 per cent a year earlier. It plans to raise the dividend by 20 per cent and the shares rose 52.5p to 685p on the news.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments