S&U hikes dividend after trading meets expectations
Source - SMW
Motor and property bridging lender S&U said trading remained strong in the final weeks of its financial year and was in line with its expectations.
The company said it had therefore approved a second interim dividend of 32p per share, up from 28p a year earlier.
Demand for Advantage's motor finance had seen a record 24,500 transactions in the year, defying recent reports of a slowing car market, the company said. Customer numbers in the business had reached 54,000 against 43,000 a year earlier.
Aspen Bridging, meanwhile, had lent over £10m and early repayments were in line with expectations.
'Whilst the political and economic uncertainties inherent in both the Brexit negotiations and a slowing economy remain, S&U continues to demonstrate its historic ability to produce excellent results and strong, sustainable growth,' chairman Anthony Coombs said.
'We are confident that will continue.'