Used car finance and property bridging loans provider S&U (LON: SUS) continues to trade ahead of budget. Group net receivables have risen from £370m to around £420m in the six months to January 2023.
The second interim dividend is 38p a share. The full year dividend total is expected to be 132p a share. At 2090p, the yield is 6.3%.
Net debt was £192m at the end of January 2023, compared with committed facilities of £210m. These facilities can be added to. Finance costs are rising, though.
The used car market pricing is still strong because of the lack of supply of new cars. Used car volume...
