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International Personal Finance Expects Stronger Rebound on Reduced Impairments

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By Anthony O. Goriainoff


International Personal Finance PLC said Tuesday that its collections performance has continued to be strong since its April update, and that this will result in a faster-than-anticipated improvement in impairments as a percentage of revenue.

The London-listed credit company said it also expects a significantly stronger rebound in profitability in 2021 than was expected at the time of its first quarter trading update in April.

“Credit issued has been broadly in-line with our internal expectations despite tighter Covid-19 related restrictions in a number of our markets,” the company said.

In April the company said that the strong collections in the first quarter translated into a 5.2% reduction in annualized impairment as a percentage of revenue, to 32.2%.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


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