StockMarketWire.com - Sub-prime lender Non-Standard Finance, which had made a £1.3bn hostile takeover bid for rival Provident Financial, reported narrowing losses and higher underlying profits.

Pre-tax losses for the year through December amounted to £1.6m, narrowing from losses of £13.0m on-year.

Revenue jumped 47% to £158.m, while 'normalised' pre-tax proft rose 12% to £14.8m.

Non-Standard Finance declared a full year dividend of 2.60p, up 18% on-year.

'2018 saw the group continue to make good progress,' chief executive John van Kuffeler said.

'Tt also marked the conclusion of a period of significant investment in the group and structural change, so that we are now delivering sustained earnings growth.'

'The fundamental drivers of our business remain robust: we are delivering strong loan book growth whilst maintaining tight control over impairment and have high risk-adjusted margins in all three business divisions.'

'Having made a good start to the current year we remain confident in the full year outlook.'






At 8:10am: [LON:NSF] Nonstandard Finance Plc share price was +0.8p at 60.2p



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