Recovering consumer confidence amidst improving economic conditions is proving good news for non-standard lender S&U (SUS).
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Indeed, for the period between 1 February and 19 May the group’s motor finance arm Advantage saw net receivables grow 49 per cent compared with the same period in 2013. Yet management says that debt quality is at its "best ever". Even the home collected credit side is doing well. At a time when similar operations are under pressure at such rivals as Provident Financial (PFG), S&U saw divisional customer numbers grow by 6,000 in the period. The company has also opened three new offices - in Bridgend, Liverpool and Greenock.
