S&U - Encouraging update
S&U’s AGM trading update provides reassurance on the motor finance business, Advantage, where receivables growth is modest but in line with our expectation, while impairments and risk-adjusted yield are showing improvement. There is also confirmation of continued development of Aspen property bridging. The shares have shown strength recently, but are still modestly rated in terms of P/E and offer an attractive yield.S & U is engaged in the provision of consumer credit and car finance throughout the United Kingdom.
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