Intelligent Loans (“Intelligent”), the Cardiff-based specialist lending packager and business funder, is pleased to report record revenues and continued profitability in the financial year to 31 May 2019 as part of the 1pm Group of companies.
The Group has achieved revenues of £31.8m, an increase of 6% from £30m in 2018 off the back of an 13% increase in new business originations to £161m. The firm also delivered record Profit before tax of £8m.
Intelligent Loans is delighted to have contributed significantly to these results having delivered a successful year from many aspects. The business has achieved robust performance growth and continue to grow the size of the team as demand for their solutions increase. The business has also focused on enhancing the products it offers in response to client needs.
The firm’s financial performance and business growth has been supported by the Group’s investment in restructuring and strengthening their senior management teams. In the financial year the group has made several high-profile appointments including Carol Roberts as head of asset and Lorraine Neyland as head of risk. With a focus on improving the use of technology in order to deliver simpler ways of doing business, David Jones was appointed as head of IT to support both the delivery of specialist products and bring greater benefits to all Group companies. Complementing this, the Group have been ‘highly commended’ for the Use of Technology for Service Excellence at the Leasing World Service Excellence Awards.
Commenting on Intelligents’ performance, Alun Winter, head of loans, said: “We are delighted to announce these results as we continue to strive to deliver a market-leading service to our broker community and clients. We’ve heavily invested in the development of our people and technology to support this, which is reflected in our financial results and the success of the Group. We look forward to evolving further over the next few years to meet the increasing demands of the UK SME market and with the benefit of being part of the 1pm Group, the business can offer a multiproduct solution covering loans, invoice, vehicle and asset finance providing the flexibility that customers demand.”
1pm’s strategy is to focus on providing or arranging the finance UK SMEs require to fund their businesses and arranging vehicle and property-backed finance for consumers. The multi-product range for SMEs includes asset, vehicle, loan and invoice finance facilities. The Group operates a “hybrid” lending and broking model enabling it to optimise business levels through market and economic cycles.
Ed Rimmer, chief operating officer, added: “In what has remained uncertain prevailing business conditions, we are delighted to be reporting continued year-on-year growth. The results demonstrate the strength of our market position, our multi-product offering and our flexible approach to providing British businesses with the finance solutions necessary for growth.”