The Bibby Group of Factors have unveiled a solid set of results, with total income growing by 27% and gross factored debts increasing by 31% to Ј1.7 billion from a client base that has swelled to over 1,800. Pre-tax profits increased by Ј800,000 to top Ј12 million.
Of the Ј43 million income in 2002, 3.7% (Ј1.56 million) came from outside the UK, more than a fourfold increase over 2001 (Ј295,000).
The 16 wholly-owned subsidiaries, 13 in the UK and 3 overseas, generated these figures. Quarter 2 saw a ‘greenfield’ site open up in Poland and a factoring operation was opened in Australia in quarter 4. A senior Bibby director has been posted to Florida to drive the existing US operation forward.
