Member Article

Manchester’s Arrow Global Group expand in Europe with pre-tax profit of £24.1 million

Manchester’s purchaser and manager of debt portfolios, Arrow Global Group PLC report pre-tax profit of £24.1 million up 14.9%.

The group successfully invested £300 million in 2014 and entered two new regions of Europe, France and Holland.

The group is working towards becoming Europe’s leading manager of debt.

The group also acquired Capquest, a Hampshire based credit solution provider valued at £153 million which is expected to deliver £6.5 million of synergy benefits in 2016.

The company report its success is due to its underwriting discipline and the quality of its data.

Chief executive officer of Arrow Global Tom Drury, said: “Arrow Global had another transformational year in 2014, investing over £300 million whilst maintaining expected levels of returns.

“We again delivered strong results, with underlying net income up 17.7% to £29.6 million and an underlying ROE of 26.1% which is in line with our medium-term ROE expectations for the Group.

“We paid our maiden interim dividend in October and are today proposing a final dividend of 3.4p bringing the total full-year dividend to 5.1p.”

“Entering 2015, we have a strong investment pipeline and expect portfolio purchases for the year to be in line with expectations, underpinned by a higher level of committed purchases of £36 million for 2015, with a further £25 million already in place for 2016.

“These committed purchases are important as they allow us to lock in future portfolio acquisitions at our targeted return expectations.”

“We will continue to evolve our business model in order to meet new regulatory standards and to further embed customers at the heart of our business.

“We believe that increased regulation of the industry will benefit the leading market players and as such feel we are well placed to deliver continued strong growth.”

This was posted in Bdaily's Members' News section by Sophia Taha .