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Cabot Financial Ltd Announces Financial Results for the 12 month period ending 31 December 2015 PDF Print E-mail
Thursday, 17 March 2016

Cabot Financial Ltd, a market leader in credit management services, today announced the financial results for the period ending 31 December 2015.


“This year we have achieved strong returns and profitable growth. Our total revenues were up by 34% to £251.1 million compare to £186.9 last year,” said Ken Stannard, Chief Executive Officer. “We have begun to embed our new acquisitions dlc, Mortimer Clarke Solicitors and Spanish contingent collections platform, Gesif, which has given us an established platform for European expansion in 2016 and beyond."

“Our portfolio purchases reached £288.9m this year, up 27% from 2014, which keeps us positioned as one of the largest debt purchases in Europe. With our ERC now reaching £2 billion, we are well positioned to reap the benefits of scale and longevity in the markets we operate in.

“We have sustained a prudent and stable funding structure this year and, as we have just received our UK FCA authorisation, we are in a very strong position for continued growth in 2016.”

Highlights

Sustained growth for Cabot Financial Ltd
 120-month Estimated Remaining Collections (ERC) increased to £2.0 billion from £1.6 billion for the same period in 2014
 Debt purchase collections increased 24% from £247.1 million to £305.4 million compared to the same period in 2014
 Adjusted EBITDA increased 14% from £173.2 million to £196.8 million compared to the same period in 2014

Business strategy and operations
 Continued growth in non UK business, with £37.4 million of non UK portfolio purchases in Q4’15 and non UK servicing revenues up 68% compared to Q4’14
 Following the purchase of dlc this year, a new centre of excellence is being created from its base in Brackley which will also house the Apex contingency business as well from mid 2016

Regulatory
 On 11 March 2016 Cabot Credit Management obtained FCA authorisation
 
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