Dynamic Commercial Finance plc, the factoring and invoice discounting company founded in 2000, has reported a pre-tax profit of Ј206,000 for the year ended 31 December 2003. This contrasts with losses of Ј96,000 in 2002 and Ј663,000 in 2001.
Turnover rose by 46% to Ј4.2 million in 2003 compared to Ј2.88 million in 2002 and Ј0.88 million in 2001.
Tony Caplin, co-founder and chairman of Dynamic said in the Chairman’s Statement:” In what is an increasingly competitive marketplace, the company continued to grow during the year as we increased our client base from 159 to 196 clients. Turnover increased by 46% to Ј4.2 million (2002: Ј2.9 million) on total sales financed of Ј207 million (2002: Ј148 million) and client commitments of Ј17.6 million (2002: loss of Ј96,000).”
