- Payments company ThinkSmart said current trading for its leasing business continued to be subdued.

The company said it had aligned its cost base and was currently reviewing the the unit's strategy.

Business volumes at the business were lower on-year, mainly as a result of lower-margin flexible leasing product.

The business currently had around 30,500 customer contracts, down from 36,400 at the end of December.

It dealt almost exclusively with Dixons Carphone, with retail distribution contracts due to end their minimum terms between January 2020 and November 2021.

Secure Trust Bank remained ThinkSmart's key partner, funding the leasing business volumes.

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