Trade finance companies Merchant Commercial Finance Limited (MCF) and Merchant Trade Finance Limited (MTF) have published their financial statements for the year to 28 February 2003. The companies specialise in purchase finance by providing Letters of Credit and direct payments to overseas suppliers on behalf of their clients against confirmed orders.
For the year to 28 February 2003 (MTF) has reported a pre-tax loss of Ј45,165 reduced from a loss of Ј159,712 for the previous 12 months. Turnover was Ј3.05m for the year to 28 February 2003 compared to Ј3.08m in the previous year.
(MCF) has reported a pre-tax loss Ј80,914 for the same period reduced from a loss of Ј257,079 to 28 February 2002. Turnover was Ј2.40m for the year to February 2003 compared toЈ3.53mfor the previous twelve months.
