Accord Financial Corp, the Toronto-based provider of factoring and asset-based financial services has announced its unaudited consolidated financial results for the three and six months ended June 30, 2003.
Factoring volume rose 14% to C$333m in the second quarter of 2003 compared with C$291m in Q2 2002. Yields were somewhat lower this year, principally as a result of an increase in the proportion of lower yielding non-borrowing factoring services. Second quarter revenue increased by 7% to C$6,280,655 compared to C$5,863,432 in 2002.
Net earnings for the second quarter were C$1,119,328 compared to net earnings of C$1,233,912 in the second quarter of 2002.
