Lowell, a European leader in credit management services, has today announced its Q2 2018 Results, for the period ending 30 June 2018. The quarter has delivered continued growth across all key metrics – reinforcing the Group’s ability to achieve sustainable growth through strategic investment and diversification, unmatched data insight and customer focus.
The quarter also represents the first full reporting period to include the Group’s new Nordic region, which is already contributing to the overall success of Lowell. Underlying business performance remains positive with solid organic growth.
Geographic and sector spread increases portfolio acquisition opportunities: generating a record run-rate in H1 with capital deployed under a long-term view and at high returns.
Strong client relationships continue to drive Forward Flow purchases (45% of portfolios purchased).
Weighted Average Cost of Debt now at 6.5% (7.9% Q2 17).
Group continues to generate positive cash flow.
Nordic integration moving at pace.
Lowell continues to be independently recognised for its consumer centric approach – Investors in Customers Gold Award in the UK for the fourth time, and a Net Promoter Score of +44.
James Cornell, Group CEO, said: “I am very pleased with the progress we have made in the first half of the year. These positive results demonstrate both the organic growth of the business and the strength our new Nordic region brings to the Group.
“We are now a very different business to the one that reported 12 months ago – in scale, in capability and diversity. These factors enable us to be more agile. With more sectors, in more markets, the business can quickly shift focus for the best returns. Across the first half of the year, we used that agility to invest capital strategically to deliver long-term, sustainable returns – growing our business the right way.
“The evolution of Lowell is supported by the platform we have built over the last 14 years. Clear customer-focus, the effective application of data science, prudent investment and a robust risk framework remain the pillars upon which we will grow.”