Final Results from Ultimate Finance Group 2012

  • Anil Kanda
  • 02 Oct, 2012

Ultimate Finance Group plc
(“Ultimate Finance”, the “Company” or the “Group”)

Final Results

Continued Growth & Increasing Market Opportunities
Ultimate Finance Group plc (AIM: UFG), a leading provider of financial solutions to SMEs, is pleased to announce its Final Results for the year ended 30 June 2012.

Financial Highlights

• Adjusted* Operating Profit increased 55% to £1,986,000 (2011: £1,284,000)
• Unadjusted Operating Profit increased 60% to £1,447,000 (2011: £904,000)
• Adjusted* PBT increased 58% to £1,909,000 (2011: £1,212,000)
• Turnover increased 16% to £11,248,000 (2011: £9,706,000)
• Final dividend increased 14% to 0.40p per share (2011: 0.35p)
• Unadjusted Earnings per share increased to 1.36p (2011: 1.20p)

Operational Highlights

• Ashley division continues to trade ahead of plan
• The Asset Finance division has grown ahead of plan
• Investment has been made into the business to support further growth
• National presence has been increased
• The marketing team has been strengthened
• Existing products have been enhanced and new products are in development o Launch of Trade Finance division post period in July 2012
• Headroom of £8.7m within the £34m banking facility for future growth
• Bad debt levels remain at traditional lows of 1%

  • Excluding acquisition, amortisation and group reorganisation related costs and one-off income

Jeremy Coombes, Founder & CEO of Ultimate Finance Group plc, commented:

“Ultimate Finance continues to deliver consecutive years of consistent revenue growth, performing in-line or above expectations. These are very good results achieved in a difficult market. To announce a 60% rise in operating profit and a 58% rise in adjusted profit before tax is testament to the quality of our products and services, as well as the reputation we have built.
“Markets continue to be demanding but there are signs of improving confidence in the SME sector within the UK. There is also an improving competitive landscape and less prevalence of our competitors buying market share by offering uncommercial terms.
“While the high street banks are restricting financing for small business loans and overdrafts, the services we provide will continue to fill this cash flow need and expand or replace the banks role with small businesses. Due to these factors, and our healthy pipeline, we believe that Ultimate Finance is well placed to continue to grow.”

About Ultimate Finance Group plc

Ultimate Finance Group is a leading provider of financial solutions to SMEs across the UK. The Company is headquartered in Bristol with offices in London, Manchester, Norwich and Lutterworth. Through its five subsidiaries (Ultimate Invoice Finance, Ultimate Asset Finance, Ultimate Trade Finance, Ashley Commercial Finance and Ashley Business Cash), Ultimate supports SMEs by funding their growth with a range of products and services tailored to each client. In the current climate where bank lending to SMEs is increasingly restricted the benefits of Ultimate Finance’s flexible and efficient solutions become even more compelling.

To see the full report you can download a copy here