Provident Financial delivers strong performance

In the year ended December 31 2015, Provident Financial’s adjusted profit before tax rose by 25.0 per cent to £292.9m

Peter Crook, the chief executive, commented: “I am delighted to announce adjusted earnings per share growth of 22.6 per cent in 2015 and a 22.6 per cent increase in the dividend for the year, reflecting strong capital generation and a very robust funding position.

“Vanquis Bank produced another excellent set of results which saw UK profits up 22.8 per cent. With credit standards unchanged, the business has continued to generate strong growth and margins through developing the underserved non-standard credit card market.”

He added: “The group has made a good start to 2016. Vanquis Bank and Moneybarn have continued to trade strongly and the home credit business has enjoyed a very satisfactory collections performance.”