Broadcastle plc, the specialist bank and finance company, announced its audited results for the year ended 31 December 2002.
Profit before tax and goodwill amortisation was up 39 per cent to Ј2.97m from the 2001 figure of Ј2.13m and record sales were achieved with a 46 per cent jump to Ј41.3m.
In August 2002 Broadcastle plc acquired a 76 per cent stake in QMS Finance Limited. This is a new company that will offer invoice discounting facilities to the private medical sector. Trading had not commenced by 31 December, but business is now being transacted and administered by Broadcastle Finance Ltd.
The 24 per cent minority interest of Avon Commercial Finance Limited was acquired and the business of this trading entity was absorbed.
