Profits have risen by more than a quarter at niche finance firm S&U after strong growth in its motor finance arm.
Solihull-based S&U saw pre-tax profits rise to £12.2 million in the year to January 31, up from £9.9 million the year before.
That came as revenues increased by eight per cent to £51.9 million.
The company enjoyed growth across its niche home credit and motor finance businesses, but it was the latter with the most impressive rise, with pre-tax profits up 40 per cent to £5.9 million following 11 per cent revenue growth.
Home credit profits rose 12 per cent to £6.3 million.
Chairman Anthony Coombs said: “I am pleased to announce an excellent year for S&U. In challenging times for many, every customer at S&U does count and it is this unique relationship which makes our continued growth both responsible and sustainable. We look to our future with quiet confidence.”
Net assets increased by 10 per cent across the year to £54.9 million.
The firm has opened new home credit branches in Glasgow, Swindon and Rotherham in the past year.