In its annual company accounts for the year ended 31 January 2003 Bury-based Regency Factors recorded a profit before tax of Ј202,570, up more than 55% compared with the previous financial year (Ј130,083). The company specialises in factoring for small businesses who need a hands-on credit control service.
Andrew Harrison, marketing manager of Regency Factors, said: “We are finding the current market extremely buoyant though prospective clients are looking more carefully than ever at value and service.” Mr Harrison added that the increase in pre-tax profit was due to an increase in business volume and improvements in customer retention.
Regency has also enjoyed the benefit of their first full year of membership with the Factors and Discounters Association (FDA). Mr Harrison said that Regency has found the FDA’s one-day courses attended by staff extremely useful and feel that membership of the trade body reassures their clients.
