Euro Sales Finance has released its financial statement for the six-month period ended 31 December 2001. The company recorded a turnover of Ј9.9m but experienced a huge loss for the period of Ј23.3m.
Acquired by The Royal Bank of Scotland plc. on 24 September 2001, Euro Sales Finance changed its accounting year to year-ended 31 December to bring it into line with the Royal Bank of Scotland Group. The statement for the six-month period included “one-off” costs identified during due diligence and alignment of accounting policies with RBSCS.
The next financial statement will be for the twelve months ending 31 December 2002.
Stuart Holloway, Managing Director of Royal Bank of Scotland Commercial Services said, “Since its acquisition last year, Euro Sales Finance has had and will continue to have the financial backing of the Royal Bank of Scotland Group. This will give the company the appropriate resource to develop and move forward.”
