- Arrow Global Group expects overall full-year earnings to be in line with its forecasts and remains confident in its future growth prospects. The company issued a trading update concurrently with a proposed placing by a group of directors, employees and former employees of Arrow following the expiry of the two year IPO lock-up. The vendors plan to sell 8.1 million existing ordinary shares - about 4.6% of the issued capital of Arrow - via an accelerated bookbuild placing. Trading update highlights: â€¢ Acquired debt portfolios for an aggregate purchase price of Â£97.1 million with a strong Q4 pipeline of which Â£23.1m is in final implementation â€¢ Investments were split 51% UK and 49% mainland Europe and are in line with target returns â€¢ 120-month ERC up 6.0% to Â£1,151.1 million at 30 September 2015 (31 December 2014: Â£1,085.4 million) â€¢ 84-month ERC up 6.4% to Â£955.1 million at 30 September 2015 (31 December 2014: Â£897.3 million) The group said quarterly results will be announced on 26 November. Story provided by StockMarketWire.com
The company issued a trading update concurrently with plans for a placing by a group of directors, employees and former employees of Arrow following the expiry of the two year IPO lock-up. Arrow Global Group expects overall FY earnings to be in line with its forecasts, it remains confident in its future growth prospects. Trading update highlights: Acquired debt portfolios for an aggregate purchase price of £97.1 m with a strong Q4 pipeline of which we expect to see further acceleration over Q4.