Euro Sales Finance today issued the following statement:
“Whilst ESF has the opportunity to expand its receivables book significantly, particularly in its growth markets in France and Germany, it has not been able to fund this expansion as expected. Although ESF continues to trade profitably, it has had to restrict new client advances and consequently revenues are delayed. Therefore profits for the current financial year ending 30 June 2001 will be materially below market expectations.
ESF is examining with its lead banks ways in which its funding position can be improved and is also reviewing with its advisers a range of strategic options.”
BCR Publishing