Solihull’s S&U has seen a strong first half of the year despite the difficult trading conditions.
The company, which provides home and motor finance, saw first half pre-tax profits rise by 8 per cent to £5.4m, while revenues grew 7 per cent to £23.6m.
“This provides an excellent platform for further substantial profit growth,” said the company.
Home Credit saw a 2 per cent revenue growth during the period as the company also increased its customer base by 3 per cent to 130,000.
The group’s Motor Finance operation, Advantage Finance, were up a third on last year as loan applications increased by 40 per cent.