Specialist finance provider S&U (LON:SUS) hailed record results in its motor finance arm and said it is looking at potential acquisitions after selling its home credit division in August.
The company, which provides financing to niche markets, said its car finance provider Advantage Finance had reached 30,000 customers, 28% higher than at this time last year.
Anthony Coombs, chairman, said: “Our excellent motor finance business is producing record results and operating in a general economic environment with the stability necessary to sustain strong consumer demand.”
S&U sold its Loansathome4u home credit division for £82.5mln in August, which the company part re-invested in Advantage, while using some of the cash to pay a £1.25 per share special dividend.
The company added that it still had “substantial headroom” in its funding facilities for “both accelerated growth and acquisitions.”
S&U said: "Significant work is being carried out with our advisers on a limited number of opportunities meeting our acquisition criteria."
These criteria include delivering earnings enhancement and significant future growth, the firm added.