S&U 's (SUS) decision to go 'all in' on motor finance seems to be paying off so far. The motor finance specialist's Advantage Finance business has accelerated its transaction growth since the end of March. Customer numbers reached an all-time high of 35,600 - an increase of 3,000 since the year-end in March. Net receivables also increased to £160m, from £145m two months earlier.
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Gearing rose to 19 per cent from 9 per cent and management's projections suggest it will not exceed 55 per cent over the next four years as the business matures. The lender plans to make further funding available for acquisitions and new initiatives "as and when they are identified".
