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    SUS   GB0007655037

S&U PLC

(SUS)
  Report
Delayed London Stock Exchange  -  11:35:22 2023-02-02 am EST
2090.00 GBX   -0.48%
2022S&U hails good quarterly trading amid "pessimism" about UK economy
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S&U hails good quarterly trading amid "pessimism" about UK economy

12/08/2022 | 10:50am EST

(Alliance News) - S&U PLC on Thursday reported "good trading" during the period of August 1 to December 7, despite "economic and political chaos".

The Solihull-based motor finance and bridging lender firm said it continues to trade well despite a period of "economic and political chaos unprecedented in most of our lifetimes".

It noted that the change in government, rising inflation and interest rates as well as an "incipient recession" was not the ideal landscape for any business.

However, S&U hailed trading, saying that it is focusing on the "excellent quality of customer relationships and the receivables". It said these receivables have now reached a net amount of GBP404 million, against GBP370 million at the half-year end.

Looking ahead, S&U expects trends to continue for the remainder of the financial year.

Chair Anthony Coombs said: "Current pessimism about the UK's economic prospects, standard of living and consumer confidence may have been overdone. However, S&U's 80 years plus of experience makes it wise to tread carefully in managing its growth. Whilst more optimistic than many, we will continue to do so until greater stability returns, and the economic skies brighten."

In Motor Finance, profitability remained good and "in line with expectations". Collections totalled a record GBP72.8 million in the period.

In September, S&U said it recorded a pretax profit of GBP21.0 million in the six months to July 31 from GBP19.9 million a year before, as revenue rose to GBP49.4 million from GBP42.8 million.

Shares were up 1.4% at 2,128.80 pence each on Thursday afternoon in London.

By Xindi Wei, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

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Financials
Sales 2023 102 M 126 M 126 M
Net income 2023 33,3 M 40,8 M 40,8 M
Net Debt 2023 185 M 228 M 228 M
P/E ratio 2023 7,65x
Yield 2023 6,46%
Capitalization 254 M 312 M 312 M
EV / Sales 2023 4,29x
EV / Sales 2024 3,83x
Nbr of Employees 200
Free-Float 16,1%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 2 090,00 GBX
Average target price 2 747,00 GBX
Spread / Average Target 31,4%
EPS Revisions
Managers and Directors
Christopher Hugh Redford Group Finance Director, Secretary & Director
Anthony Michael Vincent Coombs Executive Chairman
Demetrios Markou Independent Non-Executive Director
Graham Pedersen Independent Non-Executive Director
Tarek Paul Khlat Independent Non-Executive Director
Sector and Competitors