SME Invoice Finance Limited has announced results for the financial year to December 2003 following their annual audit undertaken by BDO Stoy Hayward.
Turnover for the year has risen by 48% with operating profits growing by over 110% to return net profits in excess of Ј400k despite increasingly difficult market trading conditions.
Commenting on the results, David Hogg, managing director said: "Our performance to date reflects the efforts of a stable, mature and talented team. Since inception, our aim has been to grow a solid portfolio, founded on good credit quality, thorough controls and the highest possible service standards; we view the resultant rate of client retention and minimal bad debt experience across our book as critical to our ongoing success."
