HSBC Invoice Finance (UK) Limited has reported profits before-tax of Ј59.69m for the year ending 31 December 2003, an increase of 12.32% compared to the previous year (Ј53.14m).
Factoring and invoice discounting turnover in the period was Ј116.39m, compared to Ј106.62m in 2002 while debt management turnover increased to Ј16.32m, up from Ј15.56 in 2002.
When BCR asked Steve Bottomley, head of Raising Finance at HSBC Bank, to comment on the results, he said: "Concentrating on the needs of our business customers resulted in a record year for both new business and profit growth.
