Credit, Collections & Insolvency News
European debt purchaser and credit management specialist Cabot Credit Management has announced its latest Financial Results for Year ended 31st December 2018.
Servicing revenue rise 104 percent from £40.2m to £82m. Adjusted earnings EBITDA rose 18 percent from £295.2m to £349.8m over the same period.
Estimated remaining collections rose 13 percent from £2.4bn to £2.7bn, while debt purchase collections rose 11 percent from £407.5m to £453.5m.
Ken Stannard, Chief Executive Officer, Cabot Credit Management, said “During this year our company has delivered another strong operating performance and has maintained capital management discipline in a competitive market. We deployed £333 million of capital during the year at consistent return levels. Compared to 2017, our servicing revenues have grown by £42 million and we have delivered Adjusted EBITDA of £350 million for the year whilst reducing our leverage to 4.1x.”
“We continue to focus on ‘Being the Best at What We Do’ putting the customer at the heart of our business. Our achievements were recognised in the industry this year with awards for best use of technology and best law firm of the year at the Credit Excellence Awards.”
“During the year, we concluded the transaction with Encore Capital to become a wholly owned subsidiary. Being part of the world’s largest debt purchaser brings opportunities to maintain our competitive advantage, drive customer and compliance leadership and maximise our financial strength.”
