Europe-focused consumer finance firm MCB Finance jumped on Wednesday after revealing that both revenue and net income for the full-year should beat market forecasts.
The firm said that lending volumes have grown "substantially" since the first half (ended 30 June) and the principal lent has increased 65% compared to the second half of 2010.
"This is a result of further increased marketing visibility in all markets, resulting in a growing number of website visits by both new and returning customers, and attractive conversion rates," the statement said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Despite the ongoing troubles in the Eurozone, MCB's four markets - Finland, Estonia, Latvia and Lithuania - have seen "favourable" economic conditions with gross domestic product growth well above the EU average, the firm said.
"The group is preparing to extend the business beyond currents markets in 2012, and is expecting to enter a new geographical market during the first half of 2012 as well as introduce new products and services during 2012."
Shares were up 8.97% at 42.5p by 10:44.
BC
-
Should you invest in Netflix?Netflix opened almost 15% higher today (22 January) after the company beat revenue expectations and smashed subscriber forecasts. Should you invest in the streaming giant?
-
Herald shareholders vote down Saba proposalsSaba Capital’s attempt to take control of seven UK investment trusts has stumbled at its first hurdle, as Herald shareholders vote down proposals
