The four factoring companies registered with the Chilean stock and exchange commission (SVS) yesterday posted a combined profit of Pesos 1,467m in the first quarter of 2004, an increase of 54 per cent over the same period in 2003.
The result yielded a combined return on equity of 30 per cent. Overall sales increased by 33 per cent to Pesos 5,246m.
Factorline, a member of Factors Chain International (FCI), led the sales ranking with Pesos 2,242m, up 33.4 per cent on a year earlier. Profits increased by 66 per cent to Pesos 442m.
Factotal came second with sales of Pesos 1,531m, an increase of 35 per cent over the same period in 2003. The company's profits increased by 50 per cent to Pesos 504m, the highest profits of the four.
Eurocapital ranked third, with sales of Pesos 1,123m, up 49 per cent on the first quarter of 2003. Profits increased by 98 per cent to Pesos 388m, yielding a return on equity of 48 per cent.
