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S & U PLC

New car wobble should help Advantage car loan business, says S&U’s Coombs

Our customers regard cars as “tools of the trade for taking kids to school and going to work.”

Anthony Coombs, chairman of S&U PLC (LON:SUS) told Proactive he expects the used car market to remain strong and underpin another good year for the finance firm.

Unlike new cars, the used car finance market grew by 6% in 2017 helping S&U lift profits by 20%.

''Our customers are in the middle of the non-prime market who need a car to get to work and who are good, reliable payers'', he says.

They regard cars as “tools of the trade for taking kids to school and going to work.”

Meanwhile, the property bridging loan start-up Aspen is still in its early stages, but “has a large amount of potential, because there’s a big demand for stock in the lower end of the housing market.”

Coombs added he was confident S& U will meet market forecasts for the year ahead.

 

Quick facts: S & U PLC

Price: £21.20

Market: LSE
Market Cap: £255.72 m
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