Venture Finance plc have released their results for the year to 31 December 2003 showing a pre-tax profit of Ј6.20 million, an increase of 20.4% compared to the 2002 figure of Ј5.15 million. Turnover also increased by 19.6% to Ј26.19 million (2002: Ј21.90m).
In their report the Board of Directors stated: “Trading conditions for our clients remained difficult in 2003 within a relatively low growth economy and high levels of business failure amongst their customers. Notwithstanding these conditions [Venture Finance] saw a growth of over 20% in the value of invoices handled, largely as a result of its policy of continuous investment in products, sales and operational infrastructure of the business.”
Of total turnover, Ј26.03 million was generated in the UK, the remainder came from European trade outside the UK.
Source: BCR
