Final results for the 12 months ended 31 December 2009
10 March 2010
MCB Finance Group plc (AIM: MCRB.L) (the “Company” or “MCB”), the consumer finance company providing flexible credit solutions to retail customers in Finland, Estonia, Latvia and Lithuania, today announces its results for the 12 months ended 31 December 2009.
Download
The full results are available to
download in PDF format
Operational and financial highlights
- Pro-forma pre-tax loss of -€0.63m for the full year (2008: €0.49m profit)
- Return to profitability in the second half with a pro-forma pre-tax profit of €0.56m.
- Economic conditions have stabilised after the unprecedented deterioration early in the year
- Successful restructuring of lending operations, with improved credit scoring, collections and cost reductions.
- Significant improvements in credit quality in the second half, back to target levels
- €10m credit facility with Rietumu bank extended to March 2011
- Company well positioned to resume growth once market conditions improve
Bertil Rydevik, Chairman, said:
“MCB has come through one of the most turbulent and testing times in recent economic history. Having successfully undertaken the changes needed, the business has emerged considerably stronger, providing a robust platform for future growth.
Further information:
| MCB Finance Group plc: | |
| Rami Ryhänen, Chief Executive rami@mcbfinance.com |
+372 5300 8332 |
| Henry Nilert, CFO henry@mcbfinance.com |
+358 451 370 065 www.mcbfinance.com |
| Media enquiries: | |
| Allerton Communications: | |
| Peter Curtain | +44 20 3137 2500 |
| Nominated adviser and broker: | +44 20 7065 2000 |
| Fox-Pitt, Kelton Limited: Marc Milmo Jonny Franklin-Adams |