In what can only be described as a challenging economic climate, Bibby Financial Services continues to triumph in these challenging conditions supporting an historically high number of businesses across a variety of industry sectors with bespoke cash flow solutions.
Globally, the business was delighted to record a 25% growth in new business year-on-year and hit the 5,000 client milestone, factoring £5.8bn debts around the world. This led to a record 84% growth in pre tax profits to £34.4m.
This strong year-on-year growth has been achieved through our agile and flexible approach to new business resulting in us supporting over 3,800 businesses in the UK and securing one in seven new deals in the domestic market, building our reputation as The leading independent who has the capability, experience and a ‘can do’ attitude to write deals where others cannot.
Having made a number of operational improvements over the last 12 months, we have not lost sight of our ambition to become the world’s largest independent factoring company, or our determination to continuously strengthen our offering to our clients.
We are proud of the results we have achieved and will continue to progress our already strong position in the UK marketplace where we continue to outperform industry rivals year-on-year, and look forward to the rest of 2011 and the long term future.
Edward Rimmer
UK Chief Executive
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