14 April 2014 – trading update
The group has confirmed that results for the year ending 31 March 2014 will be in line with expectations with pre-tax profits likely to be in the region of £1.1m for earnings per share of just over 1.0p. The group has also revealed that it has increased its funding by £5m taking its total funding headroom to £14m and it is also in negotiations to increase this further. The group’s lending book continues to grow and new business credit quality has been excellent. This is a very reassuring statement and we would expect further positive news going forward. The shares remain a BUY,