APPOINTMENTS & UPDATES CCR >>
Arrow Global Group and its subsidiaries have announced its
results for the three months ending 31 March 2015. Tom Drury, chief executive officer of
Arrow Global, said: “The first quarter was another strong period for Arrow Global, with growth across all our key financial metrics. Portfolio purchases were up 57.2% compared to the same quarter last year, at £52.1m. We remained highly cash generative, with core collections increasing by over 50% to £51.1m and we achieved a 41% increase in adjusted EBITDA to £32.8m.”
Arum has announced strong growth, with a further 36% revenue increase for the financial year 2013-14. This follows on from 30% income growth reported the previous year. Chief executive Aleks Tomczyk said:
“Our strong performance last year was down to the hard work put in by the great team we have here. Feedback from our clients shows that they value our independent views as well as the experience and skills of our consultants to help them transform their operations.”
Marston Holdings has announced that Scott & Co and AA Hutton have joined the group. Scott & Co is the largest collection
and enforcement business in Scotland, and AA Hutton is a long established collection and enforcement firm that is headquartered in Perth.
Linedata has opened its dedicated lending and leasing operations from its existing office in London.
As part of the expansion into the UK,
Johnnie Halliday has been appointed director of sales. He has over 30 years’ experience in software sales and leasing, in a variety of companies and commercial management roles.
Cabot Credit Management (CCM) has agreed to acquire Hillesden Securities, trading as dlc, from its parent company Faccenda Investments. Ken Stannard, CEO of CCM, said:
“This purchase of dlc and its portfolios is a natural part of the ongoing consolidation in the UK debt purchase market, and takes Cabot’s 120 month ERC closer to £2bn. The purchase of dlc’s portfolio represents an opportunity to bring on board a large number of portfolios in a single purchase, as well as adding exciting new BPO capabilities.”
The manufacturing sector is driving business confidence and the outlook for growth, according to a new quarterly barometer. The results from the latest Chartered
Institute of Credit Management Credit Managers’ Index for the first quarter of 2015, showed renewed business confidence and an all-time index high, despite the electoral uncertainty in the first quarter of the year. Chief executive Philip King said:
“As a weighted index, we look at 10 different but equally important factors, spreading our analysis to make the results as accurate as possible.”
Ascent has announced a joint initiative with Money Advice Scotland (MAS). Yvonne MacDermid, chief executive of MAS, said: “We are delighted to be
working closely with Ascent, and this relationship is a win-win for all.”
Over a quarter of social housing tenants are missing out on huge savings by using cash to pay for bills, goods and services, rather than direct debit, according to research from Experian. For many low-income families paying
in cash, this ‘poverty premium’ has been calculated to amount to more than £1,280 a year – an amount that could be saved if they were paying bills by direct debit. Managing director of Experian’s
Consumer Information Services Jonathan Westley, said: “They are paying more on bills because without a credit history they cannot be accepted onto a direct debit programme and must pay in cash.”
The Sigma Financial Group has opened its second office and contact centre in the Birmingham region, by taking a 3,300sq ft base in the McLaren Building on Priory Queensway. CEO Tim Freeman, said: “Birmingham
is booming and the city is on the cusp of becoming an even more important economy and centre for business in the UK.”
As CIFAS, the UK’s fraud prevention service, reports a 27% increase in identity fraud in the first quarter of 2015, credit information provider Equifax believes that this highlights a continued lack of consumer understanding about how easy it is for fraudsters to get hold of the information they need.
Debt Collection, Asset Recovery & Legal Enforcement.
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stevensdrake.com 48
www.CCRMagazine.co.uk
Call Marie Moffatt on 01293 596900, for details of our competitive pricing plans. Or email:
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stevensdrake.com
@stevensdrake July 2015
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