Business description

S&U’s Advantage motor finance business lends on a simple hire purchase basis to lower- and middle-income groups that may have impaired credit records which restrict their access to mainstream products. It has c 54,000 customers currently.

Focus on growing car finance

Update | Financials | 20/07/2015

Following an unsolicited offer, S&U is selling its home collect business. Strategically, the sale allows greater resource to be devoted to the higher-growth car finance business (cash proceeds £82.5m, NAV increased by £47m) and an as yet unquantified but significant capital repatriation. Our valuation shows a modest increase on the disposal. We have cut our near-term normalised earnings forecasts modestly as the benefit of the full deployment of the sale proceeds is unlikely in the forecast period.

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Stock data

Market cap.£268.6m
Last close2240.000p
High / Low (52 weeks)2420.0p / 1883.5p
Stock market listingLN
Forecast net cash (£m)97
Forecast gearing ratio (%)N/A

Price performance

Relative *2.82.0(0.3)

* % Relative to local index

Company news


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