From the period 10 January 2002 to 30 June this year, Ultimate Finance reported sales of Ј485,117, with a pre-tax loss of Ј663,083. Operating loss was Ј655,000, in line with expectations.
Client turnover factored or discounted during the period amounted to Ј18.4m. The company said 95% of revenue came from its recourse factoring business with about 5% generated from confidential invoice discounting.
The group has gained a well spread portfolio of 59 clients at the period end.
Source: AFX UK (Focus)
