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Annual Results

Arrow Global revenues up 42.6%

02 March 2017 07:53

Arrow Global reports a strong performance for the year to the end of December with total revenue up 42.6% to £235.9m driven by a 30.9% increase in core collections to £286.0 million.

Adjusted EBITDA increased 36.7% to £209.2 million and the group continued to see an increase in the income from asset management, with revenues now constituting 20% of the total.

The group said the results were positively impacted by the Vesting acquisition in May.

Underlying basic earnings per share increased 28.5% to 26.1p (2015: 20.3p) delivering underlying return on equity of 29.1% (2015: 26.5%).

The proposed final dividend of 6.4p per share takes total dividends for 2016 to 9.1p per share, up 28.7% on 2015 and representing a 35% pay-out.

Group chief executive Lee Rochford said: "2016 was a landmark year for Arrow. We ended the year a larger, stronger, more diverse business.

"Underlying profit after tax was 29% higher and we delivered strong returns, enhanced shareholder value and an increased dividend.

"During the year, we completed record organic purchases of £223 million with the majority sourced in off-market deals.

"In addition, we acquired Vesting in the Netherlands and agreed the purchase of Zenith in Italy.

"Our scale and reputation continue to provide a significant commercial advantage and we have started 2017 well, with a strong origination pipeline.

"We are confident in our objective of delivering high teens EPS growth and a progressive dividend policy, supported by ROE in the mid-20s, over the medium-term."

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Related Company: ARW

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