S&U motor finance sales are recovering even as credit criteria have been tightened. There is still uncertainty about the impact of the wind down of employment support schemes and how collections will recover following repayment holidays, but S&U expresses cautious optimism on the latter point. The current year results will be significantly affected by lower sales and higher arrears but management indicates the group is still profitable, is maintaining its high customer service levels
12 Aug 2020
S&U - Still in profit and tentative positive trends
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S&U - Still in profit and tentative positive trends
S&U plc (SUS:LON) | 1,932 0 0.0% | Mkt Cap: 234.8m
- Published:
12 Aug 2020 -
Author:
Andrew Mitchell -
Pages:
6
S&U motor finance sales are recovering even as credit criteria have been tightened. There is still uncertainty about the impact of the wind down of employment support schemes and how collections will recover following repayment holidays, but S&U expresses cautious optimism on the latter point. The current year results will be significantly affected by lower sales and higher arrears but management indicates the group is still profitable, is maintaining its high customer service levels