Cabot Credit Management figures show further revenue growth

Debt purchaser, Cabot Credit Management has announced its latest financial results for three months ending 31st March 2019. Cabot’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) show a 13% improvement whilst collections is performing at 101% of prior ERC forecasts.

Ken Stannard, Chief Executive Officer, Cabot Credit Management, said “Cabot has continued to deliver on our commitments to customers, clients and investors through Q1’19.”

“Internal and external customer satisfaction data is at record levels and both FCA and FOS data confirms that our UK debt purchase business continues to outperform the industry in terms of complaint handling. Our UK debt collection service is also continuing to receive extremely low levels of FOS complaints in relation to the size of its business.”

“We continued to grow our pipeline of Business Process Outsourcing opportunities as a result of the provision of our bespoke credit management solutions to help address our clients escalating needs.”

“Towards the end of 2018, we have started on the journey to deliver upon our previously communicated deleveraging commitment. At the end of Q1’19, our leverage has been successfully brought down to 3.9x.”