Earnings growth of 17% in H119 indicates the group is tracking to our FY19 earnings growth forecast with the inherent “momentum in the system” from loan activity in recent years generating good growth. Whilst competitive activity in the car financing market has had some impact on product mix and impairment, the group is not exposed to the PCP market and, with an average loan of £6,200, the prospect of declining residuals on the business model is minimal. Aspen Bridging Finan
25 Sep 2018
H119 ; 17% earnings growth
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H119 ; 17% earnings growth
S&U plc (SUS:LON) | 1,872 -187.3 (-0.5%) | Mkt Cap: 227.5m
- Published:
25 Sep 2018 -
Author:
Ben Thefaut -
Pages:
4
Earnings growth of 17% in H119 indicates the group is tracking to our FY19 earnings growth forecast with the inherent “momentum in the system” from loan activity in recent years generating good growth. Whilst competitive activity in the car financing market has had some impact on product mix and impairment, the group is not exposed to the PCP market and, with an average loan of £6,200, the prospect of declining residuals on the business model is minimal. Aspen Bridging Finan