Lowell company results show 37% increase in cash income

Debt Purchaser Lowell has announced its company results for the period 1 January to 31 March 2017. These results show the benefits of the Group’s ongoing portfolio expansion and diversification, as well as its continued consumer focus.

Financial Highlights:

•          37% y-o-y increase in Cash Income to £148m
•          32% y-o-y increase in Cash EBITDA to £78m
•          23% y-o-y increase in ERC to £1.8bn
•          44% of acquisitions over the last twelve months from forward flows
•          Portfolio investments continue to be made across diverse originating sectors

Operational Highlights:

•          Collections forecast remains consistently accurate
•          Maintained Investors in Customers (IiC) Gold rating
•          Further improved Net Promoter Score to 43

Colin Storrar, CFO Lowell, said “Lowell has again delivered strong quarterly growth across its metrics. This is a consistent performance from the now fully integrated Group which demonstrates continued good operational strategy and execution. With our strategy focused on expansion and diversification, these results, combined with the strong foundations we have in place, enable us to view 2017 with confidence.”