According to Lloyds TSB Commercial Finance Ltd, the company’s already dominant market share has increased to over 20% of the factoring and invoice discounting market, following the amalgamation of Alex Lawrie’s company results with those of Lloyds TSB Commercial Finance.
-Reported highlights for the year include:
Increased market share in client numbers to 20.5%
Commercial contribution (profit before tax) up 28% on last year to Ј35.6 million
Income up 18% on last year
Cost/income ratio reduced by 49%
Aggregate advances increased by 30% over 1999 to Ј930 million
2000 new clients gained; clients total 5852
A record Ј10 billion+ invoices purchased throughout the year
Significant investment commenced in redeveloping the company’s core systems
Continued investment in e.business applications and initiatives
