S&U PLC eyes future with confidence

S & U PLC () said profitability has been ahead of expectations recently, with its property bridging loan arm set for a record year.

In a statement released ahead of the motor finance and property bridging lender’s annual general meeting today, the company said it had “weathered the COVID pandemic and its consequences quite superbly”.

Loan advances and collections rates since the beginning of the period have been up year-on-year, with group net receivables now around the £295mln mark.

The long-established Advantage Finance car loans business has produced an excellent first quarter, ahead of expectations, the company’s statement said.