Credit management service provider, Cabot Credit Management has announced the financial results for nine months ending 30th September 2019.
The show that the credit services firm revenues increased to £279.8 million up 12 percent on the £250.5 million from the same period in 2018.
Debt purchase collections reached £354.8 million over the first nine months of the year, up seven percent from £332.9 million year-on-year.
Ken Stannard, Chief Executive Officer, Cabot Credit Management, said “Cabot has delivered another strong set of financial results for the nine months to 30 September 2019, growing our earnings and ERC through 2019 whilst simultaneously delivering on our commitment to bring our leverage down.”
“We have achieved these results through the strength of our cash generation which reflects our capital deployment rigour, our continual focus on operational efficiency, and leveraging our benefits of scale.”
“In October 2019, Cabot entered into a new co-investment framework agreement with a third party which will enable us to continue to meet our clients credit management needs and further grow scale in our business, whilst simultaneously delivering on our deleveraging commitment.”