S&U remains ‘very optimistic’ about UK’s economic recovery from pandemic

S&U Plc () boss Anthony Coombs talks to Proactive London’s Katie Pilbeam on his optimism about the UK economy as it emerges from the pandemic.

In an outlook statement accompanying the firms results for the year to January 31, Coombs highlights the UK Budget, particularly in relation to the extension of the furlough, stamp duty concessions and business support measures which will ultimately impact S&U operations.

His says ‘despite the choppy waters’ S&U reported a pre-tax profit of £18.1mln compared to £35.1mln in the prior year.

But that there has been a rebound in second-half profits for its Advantage motor finance business, while its Aspen bridging arm had seen ‘strong advances and repayments’ in the last six months of the year.