Lower bad debt charges at Provident Financial

Sub-prime lender Provident Financial reported a 12% increase in full year pre-tax profit, helped by lower bad debt charges.

Sub-prime lender Provident Financial reported a 12% increase in full year pre-tax profit, helped by lower bad debt charges.

The firm, which posted pre-tax profit of £162.1m compared to £144.5m 2010, said it was confident of further growth in the year ahead. Revenue for the year increased to £910.8m from £866.4m before.

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