Interim results for the six months to
30 June 2007
21 September 2007
Mobile Credit Baltic plc (AIM: MCRB.L), the provider of immediate, short-term credit to consumers in the growing markets of Estonia, Latvia, Lithuania and Finland, (the Fenno-Baltic Region) today announces its interim financial results for the period 1 January 2007 to 30 June 2007.
Highlights
- Lending revenues in line with expectations
- Growth in Estonia and Finland and successful launches in Lithuania and Latvia
- Continued expansion of the product range, opening hours and marketing activities in line with growth strategy
- Markedly improved customer repayment performance since earlier in the year
- Operational cost levels reflecting Company’s low-cost model
- €10 million loan facility to finance continued expansion successfully completed
- Company on track to meet growth expectations for the full year
Bertil Rydevik, Chairman, said:
“We are greatly encouraged by the progress made by the Company to date. In a relatively short period of time the Company has already established itself as a leading participant in the growing Fenno-Baltic consumer credit market. The Company has proven its ability to successfully begin operations in new markets, attract and retain customers, and generate lending volumes cost-effectively. We are also encouraged by the performance and scalability of our customer care processes and credit control procedures. The Board remains confident of the Group’s prospects and its ability to meet growth 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.mobilecreditbaltic.com | |
| Nominated Adviser: | |
| Libertas Capital | +44 (0) 20 7569 9650 |
| Andrew Raca / Stephen Pickup | www.libertascapital.com |
| Media enquiries: | |
| Capital MS&L | |
| Peter Curtain / James Madsen | +44 (0) 20 7307 5330 |
| james.madsen@capitalmsl.com | www.capitalmsl.com |