By Michael Susin
Shares in International Personal Finance PLC rose Wednesday after the company reported a swing to pretax profit in 2021 on the back of a low impairment charge, and said it will resume its dividend payout.
Shares at 0844 GMT were up 10.6 pence, or 8.7%, at 133.0 pence.
The London-listed credit company posted a pretax profit 67.7 million pounds ($92 million) compared with a loss of GBP40.7 million for 2020.
Revenue declined to GBP548.7 million from GBP661.3 million, while the company’s impairment charge fell to GBP56.2 million from GBP250.1 million.
The company said it expects to continue to execute its growth strategy as it sees significant long-term demand for affordable credit in all its markets.
The board declared a final dividend of 5.8 pence a share.
It has also agreed to introduce a progressive dividend policy and said that future interim dividend payments would be set at 33% of the prior year’s full dividend payments.
Write to Michael Susin at [email protected]