LONDON (dpa-AFX) - International Personal Finance (IPF.L) on Monday reported group profit before tax for the nine months to 30 September 2021 of 59.8 million pounds compared with loss of 41.7 million pounds in the same period a year ago, driven by strong collections performance.
Profit after tax for the period was 31.6 million pounds compared with loss after tax of 66.2 million pounds last year.
Statutory earnings for the latest 9-month period was 13.4p per share compared with loss per share of 28.3p in the year-earlier period.
Revenue for the period, however, declined to 399.5 million pounds from 517 million pounds last year.
Excluding impairment charges, net revenue increased to 371.2 million pounds from 298.1 million pounds a year ago. There was 28.3 million pounds impairment charges this year compared with 218.9 million pounds last year.
'Despite the ongoing challenges posed by the pandemic, we see significant long-term demand for affordable credit in all our markets and will continue to execute our rebuild strategy by increasing credit issued and growing the receivables portfolio while maintaining a clear focus on portfolio quality and costs,' commented Gerard Ryan, Chief Executive Officer at IPF.
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