London Scottish Bank Share Discussion Threads

[ydderf] 01/1/2004 17:06

mirror mirror on the wall, who is the cleverist of investor of them all?

[ydderf] 30/12/2003 08:32

Bought 'em, luvvvverrrrrrrrllllyyyy!!!!!!!!!!!!!!!!1

[m.t.glass] 10/12/2003 11:21

Increased my downbet on this one for now.
PS: Good call last time techair.

[techair] 16/5/2002 10:33

Up against 143 resistance and very over bought

[derek wild] 10/4/2000 13:26

ADVFN NewsWire (13:20) - London Scottish Bank announces the acquisition of the business, goodwill and capital receivables of Manor Credit for some £10m.

Manor Credit offers instalment credit facilities to a wide range of sole traders, partnerships and small companies for the acquisition of assets such as commercial vehicles, plant and machinery, fork lift trucks, trailers, tankers and cars. It is based in Huddersfield and operates principally in Yorkshire.

Manor Credit earned profits before taxation of £509,000 in the year ended March 31 and had net assets at that date of £281,000. Under the terms of the acquisition, London Scottish Bank has acquired the capital receivables, net of agreed provisions, for their book value of £8.81m and the business and goodwill for £1.15m.

John Helliwell and Clive Smith, the directors of Manor Credit, will join London Scottish Bank. Both have extensive experience in the instalment credit sector and will continue to develop that business.

Roy Reece, London Scottish Bank's chief executive, said: "The acquisition of Manor Credit is another step in the development of London Scottish as a speciality finance group. Manor Credit extends the existing corporate division of London Scottish, which already includes invoice factoring and debt collection.

"This initiative provides considerable scope for growth and broadens our product offering to small and medium-sized enterprises. We intend to build on the established customer base and are delighted to have been able to bring the existing management team of the business into the London Scottish Group."



dw