IPF Reports 2024 Profit Before Tax of £85.2m, Raises Dividend by 11%

Reuters09-30
IPF Reports 2024 Profit Before Tax of £85.2m, Raises Dividend by 11%

For the year ended 31 December 2024, customer numbers were 1.652 million, a decrease of 2.8% compared to 1.7 million in 2023. Customer lending increased to £1,214.5 million in 2024 from £1,150.6 million in 2023, representing a change of 5.6%. Average gross receivables were £1,327.5 million, compared to £1,388.9 million in the previous year, a decrease of 4.4%. Closing net receivables stood at £870.0 million, down from £892.9 million in 2023. Revenue for 2024 was £726.3 million, a decrease of 5.4% from £767.8 million in 2023. Impairment charges totaled £127.5 million, compared to £169.4 million in 2023, reflecting a reduction of 24.7%. Revenue less impairment was £598.8 million, similar to £598.4 million in 2023. Costs increased to £443.2 million from £437.6 million, a change of 1.3%. Interest expense was £70.4 million, down from £76.9 million in 2023. Pre-exceptional profit before taxation was £85.2 million in 2024, compared to £83.9 million in 2023. Exceptional items amounted to £11.9 million in 2024; there were no exceptional items in 2023. Profit before taxation was £73.3 million, a decrease of 12.6% from £83.9 million in 2023. Net cash used in financing activities was £12.6 million in 2024, compared to £72.7 million in 2023. Net decrease in cash and cash equivalents was £11.9 million in 2024 versus £9.5 million in the previous year. Cash and cash equivalents at year-end totaled £27.6 million, compared to £42.5 million at the end of 2023. The full-year dividend per share for 2024 was 11.4 pence, compared to 10.3 pence in 2023.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IPF - International Personal Finance plc published the original content used to generate this news brief on September 30, 2025, and is solely responsible for the information contained therein.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment