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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ultimate Fin. | LSE:UFG | London | Ordinary Share | GB0031685414 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 25.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6716H Ultimate Finance Group PLC 24 January 2005 Ultimate Finance Group plc Trading Update Ultimate Finance Group plc ('Ultimate') provide recourse factoring, invoice discounting and confidential invoice discounting services 24 January 2005 Introduction The board of Ultimate Finance Group plc is today issuing a trading update ahead of its interim results for the six months ended 31st December 2004. The board is confident that the results, to be announced on March 1st 2005 will be in line with management expectations. Ultimate, which came to the market in 2002 as a start up business with a seasoned management team on board, delivered a very strong performance in the year ended June 2004. This has provided the Company with a solid base from which rapid growth is expected in the current year. The Group's ability to structure deals, which are tailored to its clients' exact requirements is securing significant new client wins as well as securing its industry recognised reputation for providing a quality personal service. Outlook for 2005 In May last year the Group gained new and increased bank facilities as well as additional equity funding which will underpin the Group's core strategy of growing the business by providing invoice finance facilities to increasing numbers of SMEs. Significant opportunities exist in the market place for sustainable growth and the prospects for the Group in the year ahead remain encouraging. The new financial year has started well for Ultimate with 44 new clients on board so far making a total client base of 130. Client sales financed are running at an annual rate in excess of #70m compared to only #40 million of sales financed during the 2004 full financial year ended june 04. This continuing growth trend reflects the strength and experience of the Groups' sales and new business teams, which, along with further planned additions to the team, will continue to play key roles in growing the business in 2005. It is intended to add two more new sales personnel to the national team before the end of the current financial year to strengthen our overall sales capabilities in England and Wales. Finally, the Board is also pleased to announce that the new West Midlands office opened in October 2004 is currently performing ahead of target with a solid new business pipeline building for the year ahead. Brian Sumner, Chief Executive of Ultimate Finance Group plc commented:- "I am delighted with our strong performance to date, which has carried on into January, and I believe that the foundations are in place for stable and sustained growth in the years ahead." This information is provided by RNS The company news service from the London Stock Exchange END TSTDGGZMDMZGKZM
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