Capital Bank Cashflow Finance Limited today released their annual accounts for the year ended 29 February 2000. Turnover has fallen by 27.7% to Ј17,628,000 from the 1999 figure of Ј24,394. Pre taxation profits have fallen by 38.8% to Ј1,235,000 from the 1999 figure of Ј2,017,000.
BCR Publishing
BCR Comment:
Capital Bank Cash Flow Finance Limited’s drop in turnover seems noteworthy given their steady expansion up until 1998. The figures in themselves however are not entirely representative of the reality of the situation.
The Bank of Scotland have now decided to make their factoring service an in-house operation. All new business handled by Capital Bank Cashflow Finance Limited is now being accredited to Bank of Scotland Cashflow Finance (a division of Bank of Scotland) and subsequently the additional turnover now sits on the Bank of Scotland’s balance sheet.
