Eurofactor (UK) Ltd have recorded a substantial increase in profit in their accounts for the year ended 31 December 2001. The Directors’ Report and Financial Statements for the company show a profit before tax of Ј633,000 for the period, a 335% increase on the year 2000 figure of Ј189,000.
Turnover rose by 2.6% to Ј8,184,000 from Ј7,976,000 in 2000. The company’s profit includes an exceptional income of Ј589,000; an amount receivable under a guarantee that dates back to an arrangement between Euler and Credit Lyonnaise when they merged. The amount was reimbursed by Credit Lyonnais SA in relation to bad debt expenses incurred in prior years.
