S&U (SUS) investor relations material

Executive summary

• Profit before tax was stable at £15.7m for H1 2027, with net group receivables rising to £541.0m, surpassing £500m for the first time.

• Basic earnings per share improved to 96.8p from 95.5p, and the interim dividend increased to 36p per share.

• Strong lending growth in both Advantage and Aspen segments, with record net receivables and continued investment in technology and AI.

• Legal process for a new £600m securitisation facility is substantially concluded, expected to enhance funding flexibility.

Financial highlights

• Revenue increased 11% year-over-year to £57.3m, driven by higher receivables and better yielding loans.

• Group impairment charge remained steady at £8.2m, reflecting improved repayments.

• Net borrowings rose to £285.1m, with gearing at 114%.

• Dividend payments in the period totaled £9.7m.

• Group equity increased 4% to £251.0m.

Outlook and guidance

• Ambition to double market share in non-prime motor finance over five years, supported by expanded funding capacity from £330m to £650m via new securitisation.

• Expectation of continued growth in receivables at approximately 16% annually.

• Anticipated earnings recovery with profit growth loaded into future years.

• Focus remains on sustainable, responsible growth and maintaining strong regulator relationships.

• Economic and political uncertainty persists, but current trends indicate resilience.