Member Article

Adlington financial services firm Fairpoint Group sees double digit growth

Adlington’s Fairpoint Group plc, providers of consumer financial services, have seen double digit growth in both revenue and profitability.

Its focus is on financially stressed consumers providing services such as IVAs, debt management plans, claims management and legal services.

The group net debt has increased however the company say this is due to an increase in acquisitions in 2014 which is in line with its plan to diversify the source of its revenue.

It will announce its final results in March.

Chief executive officer, Chris Moat, said: “The Group continues to make substantial progress in its diversification agenda and with double digit revenue and profit growth, performed in line with expectations in 2014.

“Our entry into the legal services market has started well and has enhanced profitability.

“In the second half, this new segment represented over forty percent of Fairpoint’s revenues and going forward, is a strong platform for further growth.

“We remain well placed to pursue our strategy of selectively consolidating in our chosen markets, where we can deploy our core skill of applying process to professional services.”

This was posted in Bdaily's Members' News section by Sophia Taha .