StockMarketWire.com - Guarantor loans provider Amigo reported a fall in first-half profit on increased impairment charges.

For the six-month period ended 30 September 2019, pre-tax profit fell to £42.3m from £48.4m on-year and revenue increased to £145.4m from £130.1m.

The net loan book increased 8.8% to £730.7m, underpinned by strong customer growth of 17.9%

But strong top line growth was offset by the combination of increasing impairment charges, provisions for customer complaints and investment in people and operations.

The impairment to revenue ratio, however, rose sharply, within guidance, to 31.1% from 23.3%.

'Our guidance for the full year is unchanged for key operating metrics (net loan book growth, operating cost to income and impairments to revenue), dividend and gearing,' the lender said. Story provided by StockMarketWire.com