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01/04/2011

Anthony Coombs from S & U Plc says he sees a growing customer base for the company

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Additional Information
Market: LSE
Sector: General Financial
EPIC: SUS
Latest Price: 612.50p  (0.41% Ascending)
52-week High: 715.00p
52-week Low: 547.50p
Market Cap: 71.95M
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S & U Plc
www.suplc.co.uk

S&U PLC is the United Kingdom's foremost niche consumer and motor finance provider.
Based in Solihull in the West Midlands it has operations throughout the United Kingdom from Edinburgh to London to Grimsby to Falmouth in Cornwall. It provides work for nearly 800 people and is proud to provide 140,000 people throughout the country with their consumer and motor finance requirements.

S & U 's motto is to provide Britain's "foremost consumer and motor finance service for its customers". We continually strive to achieve that ideal and the results are benefiting our customers, our employees and of course our shareholders.

Full S & U Plc profile here
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Daniel Stewart and Charles Stanley reiterate 'buy' after S&U trading update

9th Feb 2010, 12:33 pm Daniel Stewart and Charles Stanley reiterate 'buy' after S&U trading update

Brokers Daniel Stewart and Charles Stanley followed up S&U’s (LSE: SUS) positive trading update this morning with reiterated 'buy' recommendations and respective price targets of 575p and 550, the latter raised from a previous 500p.

S&U shares climbed were up nearly 7 percent at midday, trading at around 480p on the LSE.

Earlier this morning in a statement ahead of FY results, the home credit and motor finance specialist said it is trading well and that results are expected to be in line with market expectations. In light of the company’s performance and the upcoming tax changes in April 2010, S&U has approved a second interim dividend of 15p and it intends to pay a final dividend of no less than 8p in June.

Daniel Stewart said the update provides them with comfort in their existing earnings forecasts. According to the analyst note from Daniel Stewart, S&U has shown its resilience during particularly difficult lending markets and the company stands to benefit from a significant reduction in market competition given the failure of former sector-rivals LSB and Cattles. The 575p target price would reflect earnings multiple of 9.8x, which would still reflect a 30% discount to sector peer Provident Financial (LSE: PFG), Daniel Stewart said.

Similarly Charles Stanley believes that S&U’s strong balance sheet, credit rationing and limited competition provide good medium term growth potential, as such it has increased the target price from 500p to 550p per share. Charles Stanley expects the company’s expansion will continue to be cautious in the near term.

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