Eurofactor (UK) Limited, the London-based subsidiary of the French Eurofactor SA factoring and invoice discounting group, has announced a pre-tax loss of Ј289,000 for the year ended 31 December 2002 compared with a profit of Ј633,000 for the 12 months to 31 December 2001. Turnover increased by 5.66% to Ј8.647 million in 2002 (Ј8.184 million 2001).
The directors of Eurofactor SA expressed “satisfaction with the level of business and profitability achieved in 2002 by the business operations in the UK and will look for prudent expansion of this segment of the business.” Credit Lyonnaise SA and Euler, each company owning 47.8% of Eurofactor SA, ultimately own Eurofactor (UK).
The UK company has branches in Reading and Manchester and has opened two further regional offices in Cardiff and Birmingham during 2003. For further information about Eurofactor (UK) go to www.eurofactor.co.uk.
Source: BCR
