S&U - Covid-19 impacts but ready to resume progress
In its trading update S&U confirmed the impact of COVID-19, particularly on its main Advantage motor finance business. With new transactions and collections running below normal levels and additional provisions currently being made, the group expects a significant impact on results this year. Aspen property bridging has been affected by lower activity but has seen more positive indicators recently. The group is taking a prudent approach to new lending, but cash generation has left good headroom to respond once conditions begin to improve.
- Unlock all research summaries
- Follow top, independent analysts
- Receive personalised alerts and emails
- Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.
- S&U - Covid-19 impacts but ready to resume progress11 Jun 2020