S&U Update Note - Prudence & Sense
The trading update (7th December 2018) confirmed that S & U's strategy is progressing according to plan. Specifically, against an uncertain economic backdrop, it has continued to impose tighter lending criteria at Advantage (motor loans) while it is proceeding cautiously with Aspen Bridging Finance (residential refurbishment). In combination, this has prompted slight reductions in our top of the range profit forecasts, but it has served, also, to reduce our expectations for net debt. Thus, we believe that S & U is improving prudently the quality of its medium-term loan book while sensibly maintaining its ability grow this further as uncertainty subsides.S & U is engaged in the provision of consumer credit and car finance throughout the United Kingdom.
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