Brentwood-based Aston Rothbury Factors Ltd has recorded a pre-tax profit increase of 308% at Ј262,625 for the year ending 31 March 2003 compared to Ј64,351 for the previous twelve months.
Pre-tax profit for the year to 31 March 2002 had plunged from the 2001 figure of Ј218,300 due to a provision made against bad debts arising within the credit hire sector, which one of Aston Rothbury’s clients operated within.
Managing director, Ian Clark, told BCR: “We have always had an excellent record of client retention and this remains strong, based on our service delivery.”
Asked how Aston Rothbury visualised the ratio of retained clients to new clients changing, Ian said: “We expect the balance to shift towards a strong growth in new business in 2004.”
Aston Rothbury has re-introduced credit insurance to the list of services on offer to its clients and is developing an enhanced collection service for factoring clients.
