DCD Factors plc, the London-based factor and invoice discounter, has released results for the twelve months to 31 December 2003 showing a pre-tax profit of Ј122,110, a 13.97% reduction compared to the 2002 figure of Ј141,942. The directors' report states that this reduction is partly attributable to the costs of securing a new bank line of credit.
In the same period, turnover increased by 7.37% to Ј947,431 (2002:882,421). Commenting on the results the directors report that "client relationships also showed a positive trend" during 2003.
They continue: “The new year has started positively and if the current trends continue, 2004 should be a good year for the company.”
More information about DCD Factors plc can be found on the DCD Finance website at www.dcdfinance.co.uk.
Source: BCR
