The Factors and Invoice Discounters Association, the trade body representing the interests of factors and invoice discounters operating within the British Isles, have today released full year and final quarter figures for 2001.
The FDA figures showed that the value of transactions handled grew in 2001, with clients’ turnover rising to a new record of Ј88.8bn (an increase of 16% from December 2000). Underlying this impressive growth is a rise in the number of clients to almost 30,000.
There has been a substantial increase in the total volume of invoice discounting, which has risen 19% in comparison to the previous year. This represents the largest growth of a specific factoring product by clients’ sales volume year on year.
