S&U PLC (LSE:SUS) chairman Anthony Coombs joined Proactive's Stephen Gunnion to discuss a strong financial recovery, with group profits up 32% and impairment charges more than halved.
Coombs said Advantage, the motor finance arm, has emerged from two years of regulatory scrutiny with renewed energy — lending volumes are up sharply, credit quality has improved, and as he put it, the business has "got its va-va-voom back." Meanwhile, Aspen Bridging delivered record profits of £8.8 million, helped by new longer-term lending products that allow borrowers to transition from short-term bridges into extended financing.
Looking ahead, Coombs sees demand for affordable motor finance remaining resilient and expects the property market to recover in the second half of the year — macroeconomic headwinds notwithstanding.
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