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.