Dynamic Commercial Finance plc, specialising in invoice factoring and invoice discounting, produced a profit before tax for the second half of 2002 of Ј52,000, which resulted in a loss before tax for the full year of Ј96,000 compared to 2001 Ј663,000 loss.
During the year the company has increased its client base from 88 to 159 clients with turnover increased by 225 per cent to Ј2.9m on total sales financed of Ј148m (2001: Ј46m).
Paul Hird, Chief Executive of DCF, said, “The business continues to grow profitably, with turnover increasing by 225 per cent whilst our cost base only increased by 68 per cent.
