S & U profits ahead of expectations in fiscal first quarter
In a statement released ahead of the lender’s AGM today, the company said it had “weathered the COVID pandemic and its consequences quite superbly”
Company
S&U PLC
LON:SUS
S&U PLC is the UK's foremost specialist motor finance & bridging lender. The company has provided credit services since 1938 and has been listed on the London Stock Exchange since 1961. Since this time, it has delivered consistent and sustainable profit growth and its seasoned management team has an unparalleled understanding of how to deliver value to all of its stakeholders, from customers through to investors.
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S&U heavily geared to UK lockdown easing says Peel Hunt
Share price target rise by 26% and rating is now 'buy'
S&U anticipates rebound as UK market emerges from pandemic
In an outlook statement accompanying its full-year results, the motor finance and specialist lending firm said recent government measures announced in the UK Budget “should, in conjunction with the vaccination programme, make a swift return
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S&U says trading remains profitable, expects significant rebound post-lockdown
In a trading update covering the period from December 9, 2020, to January 31, 2021, the motor financing specialist said customer demand in both of its divisions “remains strong” with good collection quality
S&U eyes future with confidence
S&U saw encouraging summer trading as restrictions were eased
S&U says it is in fine fettle as trading rebounds
In a trading update for the period from August 1 to December 8, 2020, the group said demand for used cars and their auction values have “recovered well”, which was reflected in an improved rate of transactions at its Advantage business
S&U highlights encouraging rebound in trading following lockdown
The chairman of the specialist motor finance and bridging lender also said it has “significant opportunities” to attract new customers and increase market share going forward
S & U encouraged by recent trading trends although consumers remain “skittish and cautious”
The trends are undoubtedly heading in the right direction but there is still too much uncertainty for the group to feel confident about providing full-year guidance
Second-hand car interest now outstripping pre-coronavirus levels
More searches are being carried out than in the weeks preceding the lockdown
S & U sees its conservative approach paying dividends "literally and figuratively"
Both of the group's businesses have been hit by the coronavirus lockdown restrictions but it has not applied for any money under government support schemes during the crisis and remains confident of future prospects
S&U will emerge from crisis stronger and fitter says car finance specialist's chairman
Profits rose for a twentieth year running in the period to January
S & U sees pick-up in trading since the General Election
The used car market remains robust and its Advantage business, to coin a phrase, has taken advantage of this
S&U trading holds firm despite UK’s “political vacillation”
The lender says trading has continued in line with expectations despite what it says is slowing economic growth and a "downbeat prognosis" for UK consumer spending
S&U appoints industry heavy-hitter to run car finance arm Advantage
Anthony Coombs, chairman, said he every confidence in the business whatever 'the outcome of the current maelstrom in Westminster'.
S&U shrugs off weak car market and subdued housing market to deliver strong trading
"Trading in the first half of the year reflects continued and consistent growth in profitability which has been the S&U hallmark over the past 10 years," said S&U chairman Anthony Coombs
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S & U encouraged by recent trends
Advantage's continuing policy of focussing on debt quality is proving its worth in light of current economic uncertainty
Rising demand for second-hand cars bodes well for S&U, says City broker
Unlike new car sales, sales of used cars have “grown consistently” since 2009, and are projected to continue rising until at least 2023