Arrow Global Group reported higher 3Q pretax profit, after income from its loan portfolios swelled to help total revenue rise by more than 60%. Pretax profit increased to £9.5m in the three months ended 30th September, up 12.6% YoY. Arrow Global lifted maintained its interim dividend at 43.3 per share. Revenue rose 62% to £1.7 pencem largely due to higher income from purchased loan portfolios, as well as stronger income from asset management. Operating expenses, of which about 60% relate to debt collection activity costs, increased 86% to £24.9m. Chief Executive Tom Drury said "Going into the final quarter, we have good visibility on a strong pipeline of deals and we remain firmly on track to deliver overall full-year earnings in line with our expectations. As we look to 2016, with the full-year benefits from the successful implementation of the Capquest and Whitestar acquisitions overlaying continued growth from attractive organic investments, we are confident in achieving another year of significant growth,"
Arrow Global Group reported higher 3Q pretax profit, after income from its loan portfolios swelled to help total revenue rise by more than 60%. Pretax profit increased to £9.5m in the three months ended 30th September, up 12.6% YoY. Arrow Global lifted maintained its interim dividend at 1.7 pence per share. Revenue rose 62% to £43.3m largely due to higher income from purchased loan portfolios, as well as stronger income from asset management. Operating expenses, of which about 60% relate to debt collection activity costs, increased 86% to £24.9m. Chief Executive Tom Drury said "Going into the final quarter, we have good visibility on a strong pipeline of deals and we remain firmly on track to deliver overall full-year earnings in line with our expectations. As we look to 2016, with the full-year benefits from the successful implementation of the Capquest and Whitestar acquisitions overlaying continued growth from attractive organic investments, we are confident in achieving another year of significant growth,"