Accord Financial Corp., a leading North American provider of asset-based financial services to businesses, including factoring, financing, credit investigation and guarantees, has announced interim unaudited consolidated financial results for the quarter ended 31 March 2004.
Net earnings for the first quarter rose by 17% to C$1,317,063 compared to C$1,128,676 last year. Diluted earnings per share increased to 13 cents compared to 12 cents last year.
Factoring volume increased to C$357 million in the first quarter compared to C$346 million last year. Volume was a new first-quarter company record. Revenue increased by 5% to C$6,501,844 compared to C$6,196,856 last year on record recourse factoring volume.
