Accord Financial Corp, a leading North American provider of asset-based financial services to businesses, has announced unaudited consolidated financial results for the quarter and nine months ended 30 September 2003.
Revenue increased by 4% to $6.58m in the third quarter of 2003 compared to $6.31m last year despite factoring volume declining by 4% to $384 million. The decrease in volume arose in the company’s lower yielding credit protection and collection services business, while volume in the company’s higher yielding asset-based lending and invoice discounting business increased compared to a year earlier.
