Interim results for the six months ended 30 June 2008
05 September 2008
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 financial results for the six months ended 30 June 2008 and the intention to raise additional equity of up to €5 million in the coming months to make sure the Company can fully take advantage of opportunities for growth during late 2008 and 2009.
Highlights
- Company profitable on monthly pre-tax basis after achieving break-even in period
- Pre-tax loss of €565k (€1.6m) on €5m turnover (€1.5m)
- Trading continues to be strong in all territories. 100,000 customers served to date
- Successful start of additional distribution channels in Estonia and Latvia
- Continued robust demand for Credit24 loan products
- MCB’s proprietary credit scoring models have led to strong repayment performance, despite the weakened macro-economic environment
- Successful launch of new corporate identity alongside established consumer brands
- Significant further growth expected, and on target for profitability during 2008
Bertil Rydevik, Chairman, said:
“We have continued to develop the business in line with our growth strategy and are greatly encouraged by the performance in the first half of the year. Having made a number of important advances in the period and achieved profit on a monthly basis, we remain confident that our strategy will continue to deliver profitable growth and meet expectations for the full year.”
Download
The full results are available to download in PDF format
Enquiries
| Mobile Credit Baltic plc | |
| Rami Ryhänen Henry Nilert, Chief Financial Officer |
+372 5300 8332 +358 451 370 065 |
| www.mcbfinance.com | |
| Nominated Adviser: | www.libertascapital.com |
| Libertas Capital | |
| David Rae | +44 20 7569 9669 |
| david.rae@libertascapital.com | |
| Chris Ennals | +44 20 7569 9664 |
| chris.ennals@libertascapital.com | |
| Media enquiries: | |
| Allerton Communications: | |
| Peter Curtain | +44 (0) 20 7307 5330 |
| peter.curtain@allertoncomms.co.uk | www.capitalmsl.com |