The annual accounts for the factoring company City Invoice Finance Ltd for the year ended 31 December 2000 record that a pre-taxation profit of Ј300,889 has been achieved This compares with pre-taxation losses of Ј802,362 and Ј110,966 in 1999 and 1998 respectively. The accounts also show that turnover has risen by 240% to Ј2,692,029 from the 1999 figure of Ј790,523.
City Invoice Finance was set up in June of 1998 and commenced trading on 1 January 1999. The company’s main office is in Manchester. Two further branches have subsequently been opened to provide coverage for the midlands and south coast regions.
