Debtmatters on the Right Track
Debtmatters Group PLC who listed in June last year and bought Bolton based secured loans specialist Loanmakers in June this year have given a Pre-Close trading update.
In it they say trading has been strong with the following highlights
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Trading comfortably in line with upper end of market consensus
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Approved case volumes consistently above 500 per month
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Conversion rate in the region of 8% of all consumers contacting us for advise
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Loanmakers acquisition successfully integrated into the Group and trading in line with expectations
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Group now cash generative
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Established infrastructure providing platform for continued growth
Specifically about the secured loans business, Debtmatters says
“Loanmakers has performed well since acquisition in June. Trading volumes are encouraging and in line with expectations. As previously announced, it will shortly be relocating to new premises adjacent to Debtmatters, allowing expansion in staff numbers and organic growth. Cross referral opportunities between Group companies are now being identified and we anticipate this will grow successfully in the coming months.”
The shares opened +4p (1.14%).
I just hope the group never finds itself in financial difficulty or it will probably find its ticker symbol “DEBT” an unfortunate one!
