Annual General Meeting Trading Statement

RNS Number : 8855N

Non-Standard Finance PLC

14 May 2018

 

Non-Standard Finance plc

(the 'Company' or the 'Group')

Annual General Meeting Trading Statement

14 May 2018

Ahead of the Company's Annual General Meeting to be held later today, the Group has made the following trading statement:

Trading performance since the full year results on 13 March 2018 has been in line with management's expectations. 

Having already opened 11 out of the 12 new branches scheduled for this year, Everyday Loans has continued to enjoy strong loan book growth whilst maintaining a tight control on impairment. As a result, risk adjusted margins remain strong and in-line with 2017. 

The pace of growth in guarantor loans means that this is now the Group's second largest division.  Both the George Banco and TrustTwo brands are enjoying record volumes month-on-month, reflecting strong market demand and our position as the clear number two in the sector.  Impairment remains in-line with previous guidance.

As expected, in home credit, Loans at Home has continued to enjoy good loan book growth and we remain on course to achieve our target of 20% in the current year.  The large numbers of new agents recruited in 2017 are continuing to increase the number of customers on their books while impairment remains in-line with previous guidance. 

With long-term funding in place, we remain confident in the full year outlook.

For more information:

Non-Standard Finance plc Peter Reynolds, Director, IR and Communications

[phone]

 

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