S&U PLC
LSE:SUS
S&U PLC
S&U Plc is a holding company that provides motor finance services. The company is headquartered in Solihull, West Midlands. The firm operates through its subsidiaries, Advantage Finance Limited (Advantage Finance), and Aspen Bridging Limited (Aspen Bridging). Advantage Finance is a motor finance company. Advantage Finance operates in the used car sector, offering loans of up to £15,000 on a hire purchase basis. Aspen Bridging is engaged in property bridging business. Aspen Bridging lends up to £5m per deal with an average loan of £500,000.
S&U Plc is a holding company that provides motor finance services. The company is headquartered in Solihull, West Midlands. The firm operates through its subsidiaries, Advantage Finance Limited (Advantage Finance), and Aspen Bridging Limited (Aspen Bridging). Advantage Finance is a motor finance company. Advantage Finance operates in the used car sector, offering loans of up to £15,000 on a hire purchase basis. Aspen Bridging is engaged in property bridging business. Aspen Bridging lends up to £5m per deal with an average loan of £500,000.
Profit Growth: S&U delivered a 22% increase in profit before tax to GBP 15.6 million, driven by record profits at Aspen and recovering profits at Advantage.
Impairment Reduction: Impairment charges fell by 57%, reflecting better customer repayments and strong collections, especially at Aspen.
Dividend Increase: The interim dividend was raised from 33 to 35 pence per share, reflecting improved profitability and confidence in future performance.
Loan Book & Borrowings: The loan book contracted by 14% year-on-year, and borrowings decreased by 23%, leading to lower gearing and interest costs.
Positive Outlook: Management is optimistic about accelerating growth in H2, with record lending months reported and new products performing well.
Regulatory Environment: The company feels well positioned to handle regulatory changes and sees the FCA redress scheme as benign for Advantage.
