Source - SMW
Arrow Global Group's underlying after-tax profits rose by 34% to £38.9m in the nine months to the end of September.

Statutory after-tax profits were up 39% at  £16.0m and the underlying LTM return on equity of 33.9% was up from 27.4% a year ago.

The group said it continued to see attractive opportunities across core markets.

Group chief executive Lee Rochford said: 'In the first nine months of the year, Arrow continued to grow strongly and profitably. Portfolio purchases in the period increased by 30%, and we are on track to meet our guidance of completing total purchases of approximately £200.0 million by the year end. 

'The capital light asset management business has also seen excellent growth, and we expect this to continue into 2018 following the close of the acquisition of Mars Capital later this year.

'We are delivering on our One Arrow initiative, investing in the people, processes and systems that the business requires to enhance performance and future efficiency.  

'As previously guided, the benefit of this programme will start to be realised in 2019.

'Our focus on consistent, high returns has meant underlying LTM ROE increased to 33.9% - ahead of our guidance of mid-twenties over the medium-term.  

'We are also executing efficiently on our strategy of diversifying by geography, asset class and revenue stream.  

'Our consistent delivery, and the growing opportunity across all of our core markets, gives us confidence that we will deliver on expectations for the full year.'


At 8:00am: (LON:ARW) Arrow Global Group share price was +9p at 449p