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International Personal Finance PLC on Wednesday said its annual profit and revenue were both up, prompting it to declare an increased total dividend for 2022. Shares in International Personal Finance surged 15% to 110.62 pence each in London on Wednesday afternoon. The Leeds, England-based company which offers small, unsecured cash loans said 2022 pretax profit rose 14% to £77.4 million from £67.7 million in 2021. This was because revenue also increased by 18% to £645.5 million from £548.7 million. As a result, it lifted its total annual dividend by 15% to 9.20p per share from 8.00p in 2021. Looking ahead, International Personal Finance said all three of its division had started 2023 well, noting ‘no discernible impact from cost-of-living increases on customer demand or repayment performance’. Its outlook includes looking to deliver target returns of around 20% in European and Mexican home credit, noting ‘excellent’ growth opportunities to achieve scale and target returns in IPF Digital. This was alongside its new credit card offering in Poland performing ahead of our expectations and having issued almost 10,000 cards. Chief Executive Officer Gerard Ryan said: ‘I am delighted to report that, notwithstanding the challenges created by increased costs of living and the war in Ukraine, we delivered strong growth in customer lending and receivables of 14% while maintaining our very good portfolio quality. ‘We are very mindful of the potential adverse impacts that the macroeconomic landscape might have on us and our customers, but we are confident our cautious approach and strong balance sheet provide the foundation for delivering significant future growth.’ Copyright 2023 Alliance News Ltd. All Rights Reserved.
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