S&U plc (LSE:SUS, FRA:97V) (LON:SUS) said trading was currently ahead of expectations “in terms of profitability, collections and book debt quality”.
Updating investors, the finance specialist said its Advantage motor operation continued to enjoy a “profitable, controlled and cash generative recovery”.
It added that new business was gradually increasing, “month by month, to nearer normal levels”.
Investors were told Aspen property bridging division had continued to see the “encouraging trends” witnessed earlier in the year and reported in May.
S&U said net receivables from the unit are currently just under £58mln against £18.5mln a year ago, and book quality and repayments “continue to be very good”.
Financially, the company appears well set. While borrowing has increased £6mln to £116mln since it last reported, it still has £64mln of its £180mln funding facility left, giving “substantial headroom for growth”.
Chairman Anthony Coombs said: "As Britain gradually emerges from the effects of Covid, S&U is demonstrating by its debt quality, collections performance, customer service and product improvements, the inherent strength and potential future profitability of the group.
“The challenge now is to grasp these opportunities for new growth. I am confident that we will do so."