European leader credit management specialist, Lowell has announced its annual results. The results show strong growth in three key metrics: Cash Income, Cash EBITDA and £120m ERC with collections continue to perform ahead of forecast.
Colin Storrar, Group CEO, said “2019 was a year of delivery for Lowell. We have continued our growth by doing things the right way – running our business efficiently and ethically. We are delivering better outcomes: for customers, for clients, for colleagues and for our investors. These results represent the hard work of each colleague within Lowell and I am proud of what we have achieved this year.”
“Our purpose; to make credit work better for all, has not just been the foundation of the results we have announced this morning, but also of new strategic partnerships that create opportunities for our future development.”
“I am delighted to announce the signing of our co-investment agreement and the first joint portfolio acquisition into this partnership structure. This is a natural evolution for our business and demonstrates again the strength of our origination, pricing and servicing capabilities.”
“Our performance demonstrates a business that has built strong and sustainable financial foundations. These are foundations from which we can build and focus on the priorities for the next stage of our growth as we continue to make credit work better for all.”