European debt management services specialist Lowell has announced its results for the quarter ending 31st March 2020.
The results show Lowell’s cash income increased seven percent to £952 million, from £892 million when compared with Q1 2019, while cash EBITDA also rose 14 percent to £508 million, from £444 million.
Colin Storrar, Group CEO. at Lowell said “The first quarter continued the momentum of 2019, and demonstrated a resilient business, with collection performance in line with our forecasts, continued strong cash flow generation and a robust liquidity position.”
“We remain pragmatic in our assessment of the purchasing landscape, with a focus on maintaining that strong liquidity level. Where deals arise, we will invest for value, growth and the long-term benefit of the business.”
“I am hugely proud of the whole Lowell team across Europe and the way that they have dealt with the situation. Without them we could not support our customers, and we could not deliver our purpose: to make credit work better for all.”
“We have the right fundamentals in place: strong foundations; clarity of our purpose and strategy, and a proven ability to adapt at speed. This give me confidence that we will continue to evolve and grow our business in the right way in what will become an increasingly attractive market.”