Interim figures from motor finance provider S&U (LON: SUS) were solid, but new business obtained in the first half augurs well for a much stronger performance in the second half and next year.
Lending standards have been tightened and that means that S&U is choosy about the business it takes on. It takes time for new loans to start generating a profit contribution.
Interim pre-tax profit rose by 3% to £17.1m and the dividend was increased by 6% to 34p a share.
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