Private & Commercial Finance Group (PCFG) has announced that
the group’s results for the six months ending September 30 2009 are
anticipated to be in line with market expectations.
In a trading statement, the lessor said that it “continues to
benefit from reduced competition in our chosen sectors”.
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“[This] is enabling us to write good quality business on
attractive terms, and to support our customers and introductory
sources,” said Scott Maybury, chief executive of PCFG.
“Our group continues to demonstrate its considerable robustness
in the financial services arena. With a strengthened balance sheet
following the recently announced placing of new shares, and
redemption of the 2009 convertible loan stock, we are well
positioned for challenging economic conditions that we may
encounter in 2010.”
Indeed, last month, PCFG raised £1.35 million (€1.5 million)
through a share placing, providing further additional working
capital for the company and helping to repay its 2009 loan
notes.
Jason T Hesse
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