Last checked at 23 Jun 2010 07:00
23 June 2010
International Personal Finance plc ("IPF")
Pre-Close Trading Update
IPF is continuing to make good progress. Credit issued is growing steadily and credit quality in all markets is good. As expected, second quarter performance is benefiting from the reversal of impairment charges taken during the weather-affected first quarter of the year and as a result trading in April, May, and for the year to date, has been ahead of plan.
There are two full weeks to complete before the half-year but trading in the first 3 weeks of June was in line with our expectations. We have seen no adverse impact as a result of the economic uncertainty that has followed from the Greek sovereign debt crisis and we are pleased with the continuing good progress in our Hungarian business. However, our credit controls remain cautiously set, particularly in Romania, where the impact of the government's reduction in public sector pay and pensions has yet to be felt.
The Company's half-yearly financial report will be published on Thursday, 22 July 2010 and will be accompanied by an analyst briefing.
For further information contact:
Finsbury +44 (0) 207 251 3801
Charles Watenphul
James Leviton
International Personal Finance plc
Helen Spivey (Investor Relations) +44 (0) 113 285 6876
Victoria Richmond (Media) +44 (0) 113 285 6873