Debt purchase and credit services specialist Cabot Credit Management has announced its latest company results which saw its earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved to 66%

During this half-year we have continued to receive public recognition of our customer focus and operational excellence, with our UK legal business (Mortimer Clarke Solicitors) winning law firm of the year and our UK debt purchase business winning the best vulnerable customer strategy provider at the Credit Awards held in May.”

“Importantly, we have in parallel delivered against our previously communicated commitments. During the first half of 2019, Cabot has demonstrated the strength of our cash generation by deploying £117 million of capital on portfolio purchases whilst keeping our net debt flat. This cash generation capability has enabled us to reduce our leverage from 4.1x to 3.8x over this period and increase our Adjusted EBITDA margin from 64% to 66%.”

“In June 2019, Cabot successfully issued a new five year €400m floating rate note which enabled us to redeem all of our 2021 maturities and extend our overall debt maturity profile.”