LONDON (Thomson Financial) - Debt Free Direct Group PLC, the debt adviser,
said first half pretax profit fell to 5.16 mln stg from 5.4 mln stg this time a
year ago, although adjusted pretax profit remained unchanged at 5.4 mln stg.
The group also said that it will be renamed Fairpoint.
Revenues for the first half of the year to end-October rose to 20.1 mln stg
from 12.9 mln stg this time last year.
The group, which also suspended its share buyback program, added that Paul
Latham, the group's finance director, is also to step down.
Debt Free Direct, the UK's leading arranger of Individual Voluntary
Agreements (IVAs), said that the macro-economic outlook is "favourable", because
of the growing consumer debt problems and the credit-crunch.
It added that the business is "poised for further volume and profitability
growth".
alexander.ferguson@thomson.com
af/vlb
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|