Shares in unsecured consumer lending provider International Personal Finance (LSE:IPF) rose 6% to 101p after the reported trading ahead of plan in the first quarter.
It said all its divisions started the year well, with 15% growth in customer lending compared to a year ago.
"There has been no discernible impact from the cost-of-living crisis on customer repayment behaviour and our portfolio quality remains good," it said, but added that it is "continuing to maintain a cautious approach to lending given the macroeconomic backdrop".
Broker Shore Capital said it expects growth to "moderate somewhat" as the year progresses, given the impact of a new price cap and affordability regulations in Poland.
Analyst Gary Greenwood noted that the group has outperformed management expectations on costs, with the cost-to-income ratio improving to 58.8% versus 60.9% in the preceding quarter and 67.3% this time last year.
Following this update, he expects to upgrade adjusted PBT forecast for the full year by circa 8% to around £66mln, with earnings per share of roughly 17.7p to "capture better than expected performance on costs".
"We expect a more muted impact on future years’ forecasts viewing this as faster delivery on an anticipated trajectory."