StockMarketWire.com - Unsecured consumer credit provider International Personal Finance said it had returned to profitability in the third quarter as collections effectiveness improved.

The group was profitable on a pre and post exceptional item basis in the third quarter, as the actions taken during the previous months help to propel the business back to a more normalised trading footing, the company said.

Collections effectiveness improved to 95% of pre-Covid expectations in the third quarter, it added.

The company also said it had launched an 2021 Eurobond exchange offer alongside a consent solicitation process for its SEK and sterling bonds.

'We have also made significant progress on our key objective to refinance the 2021 Eurobond and today launched an exchange offer for the 2021 Eurobond and a consent solicitation process for the Group's two other bonds,' the company said.



At 9:40am: [LON:IPF] International Personal Finance PLC share price was +5.8p at 59p



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