IPF sees improved outlook for world economy

IPF, which split from its Bradford-based parent Provident Financial in July 2007, maintained its total dividend at 5.70 pence per share.

"The outlook for the global economy has improved and conditions in our markets are generally better than at the start of 2009, but uncertainty remains," the company said.

IPF, which offers small loans to consumers in central and eastern Europe, Romania and Mexico, said it aimed to deliver improved results in 2010.

Mexico achieved its maiden profit in 2009 and Romania was on track to achieve a full-year profit for the first time, IPF said.

For the year ended December 31, pre-tax profit was 61.7m compared with 76.3m a year ago.

Revenue fell 1.2 per cent to 550.2m.

For 2009, analysts on average were expecting the company to post a pre-tax profit of 57.8m, on revenue of 563.1m

IPF makes cash loans of less than 600 which are arranged and then collected in weekly payments by doorstep debt agents.

Shares in IPF closed at 208.1 pence on Tuesday on the London Stock Exchange.