S&U PLC (LSE:SUS) chairman Anthony Coombs takes Proactive's Stephen Gunnion through the company’s latest trading update, highlighting positive momentum in its Advantage and Aspen businesses.
Coombs noted that Advantage, S&U’s motor finance division, has seen improvements in collections and efficiency, aided by an easing in regulatory restrictions. He acknowledged ongoing uncertainties, particularly regarding the Supreme Court’s upcoming review on commission disclosure, which has impacted the UK’s motor finance sector. However, he expressed confidence that the business remains strong, with better customer engagement through the newly launched site.
Discussing Aspen, S&U’s property finance division, Coombs highlighted a strong performance with over 50% profit growth. He attributed this success to sustained demand for residential property and a favourable interest rate outlook.
Coombs remains cautiously optimistic about the future, citing early signs of regulatory changes having a positive impact on operations. "The efficiencies and the change in techniques that were brought about by regulations is beginning to have some beneficial effect," he stated.
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