CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Cabot Credit Management Announces Financial Results For Six Months Ended 30 June 2017
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Cabot Credit Management Announces Financial Results For Six Months Ended 30 June 2017 PDF Print E-mail
Thursday, 24 August 2017
Cabot Credit Management (CCM), a market leader in European credit management services, today announced the financial results for the six months ended 30 June 2017. 

“Cabot continued to deliver on its track record of consistent growth with a strong start to 2017. Our Adjusted EBITDA for the first half of 2017 has increased 18% compared to the same period in 2016, from £117.9m to £139.0m, said Ken Stannard, Chief Executive Officer, CCM.

Subsequent to the end of the period, CCM has entered into an agreement to acquire FCA-authorised Wescot, a leading UK contingency debt collection and business process outsourcing (BPO) services business.

To fund this acquisition and refinance existing debt, our 100% indirectly owned subsidiary, Cabot Securitisation UK Limited, has signed a £260 million Asset Backed Senior Facility (the “Facility”). The Facility is non-recourse to Cabot and has an initial size of £260 million, with a £90m accordion. It has a 5-year legal maturity and an advance rate of 57% of 84 month Estimated Remaining Collections (ERC) and a margin of 1 month Libor plus 285 basis points.

Additional half year highlights for Cabot Credit Management
 120-month Estimated Remaining Collections (ERC) increased 6% from £2.1bn to £2.2bn compared to the same period in 2016
 Debt purchase collections increased 11% from £175.9m to 195.2m compared to the same period in 2016
 Adjusted EBITDA increased 18% from £117.9m to £139.0m compared to the same period in 2016
 First Credit Management Servicing company to receive full Central Bank of Ireland authorisation on 5 May 2017
 Successful acquisition of Orbit, a UK based debt contingency business specialised in the UK utilities markets

Business strategy and operations
 Service revenues continue to grow, up 18% compared to same period in 2016
 Leverage down to 4.1x compared to 4.6x at 30 June 2016
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197