Lloyds TSB Commercial Finance Limited, the receivables finance division of Lloyds TSB Group plc., has released its Directors’ report and financial statement for the year ended 31 December 2001.
The company recorded a 16% increase in pre-tax profit to Ј45.84 million compared with Ј39.37 million for the year ended 2000.
Ted Ettershank, managing director of the subsidiary said in his directors’ report “2001 was an exciting year, with record profits achieved in the environment of continued integration of Lloyds TSB Commercial Finance and Alex Lawrie Factors.
