Bibby financial services posts £19m profit
Financial Services group Bibby has announced a pre-tax profit of £19m and company growth of 24 per cent for 2009.
The company also reported that its client base had increased to 4,738, which is a 16 per cent rise on 2008, while its market share in the UK increased to 8.1 per cent over the course of 2009 as a result of landing one in six new deals taking place in the market, a result which Bibby global chief executive David Robertson described as “outstanding”.
The firm’s intention to expand its international operations comes soon after industry statistics published by the Asset Based Finance Association (ABFA) revealed that export invoice discounting was the fastest growing sector of the asset based finance market.
David Robertson commented: “I am very proud of the position we have achieved and the high level of customer service delivered to clients whether in domestic markets or trading cross borders.
“We will continue to progress our already strong position within the global factoring marketplace and look forward to the rest of 2010 and the future in terms of driving increased market share, and our global aspiration to become the world’s largest independent factoring company.”
Performance in the UK and Ireland remained also remained strong, while the firm’s Asia Pacific division delivered a record breaking performance against what Robertson described as “some of the most harrowing trading conditions of the last half century.”
