Financial Highlights
Profit before taxation from continuing operations up 32% to £8.8m (H1 14: £6.7m)
Revenue from continuing operations up 20% to £20.4m (H1 14: £17.0m)
Basic earnings per share from continuing operations up 32% to 58.3p (H1 14: 44.3p)
Additional exceptional profit on disposal of Home Credit division of £50.5m in H1 15
First interim dividend increased by 18% to 20p per ordinary share (2014: 17p) and exceptional additional dividend of £1.25 per share to be paid from the proceeds of the Home Credit division disposal
Operational Highlights
Record profits at Advantage Finance at £9.7m (H1 14: £7.7m)
Disposal of Home Credit division for proceeds of £82.5m
Continued excellent collections and debt quality at Advantage Finance
Strong net cash position for organic expansion and acquisitions
Anthony Coombs, Chairman of S&U, commented:
"The past six months has seen momentous change in the development of S&U. The sale of our traditional home credit business was both net asset enhancing and strategically desirable. It gives us a very strong base on which to continue to build Advantage Finance, our motor finance division and to explore other similar high growth areas of speciality finance."
