Accord Financial Corp., a leading North American provider of asset-based financial services to businesses, has announced its unaudited consolidated financial results for the three and six months ended 30 June 2004.
Factoring volume for the first half of 2004 increased by 5% to C$711 million compared to C$679 million last year. Total revenue increased by over 6% to C$13,275,539 compared with C$12,477,511 last year.
Factoring volume in the second quarter was a company record at C$354 million, a 6% increase over last year’s second quarter volume of C$333 million. There was an increase in the proportion of higher yielding recourse factoring in the quarter compared to the previous year. As a result, second quarter revenue increased by 8% to C$6,773,695 compared to C$6,280,655 last year.
