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Morses Club profits fall but customer numbers rise after year of acquisitions
StockMarketWire.com
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Payday lender Morses Club increased its revenue but saw its pre-tax profit fall in its financial year ending 29 February 2020, it announced today.
Revenue for the year increased by 14.3% to £133.7 million, the company reported in its preliminary results statement.
Statutory profit before tax was £11.5 million, down from £22.2 million the previous year.
Morses Club reported a 9% increase in customer numbers to 255,000, boosted by the launch of its online portal, which had 78,000 users by the end of the period.
It also acquired two businesses - CURO Transatlantic and U Holdings - adding 55,000 customers.
Story provided by StockMarketWire.com
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