Credit management services firm Intrum Justitia (STO: IJ) is climbing in sharply negative market after the company announced quarterly numbers that were considerably better than expectations. Revenue climbed over 10% to 977.5 million SEK and EBIT over 20% to 210.6 million SEK adjusted for currency effects in the second quarter. The amount of purchased debt grew considerably and the return on investment in purchased debt was 22.7%.
CEO Lars Wollung was satisfied with the continued stable development and said that operationg acquired from Aktiv Kapital are contributing to earnings. He said that demand for services combining traditional credit management with purchased debt continues to increase. He also feels that good opportunities are available for the company in expanding service offering early in the payment chain in areas like credit decision solutions and payment solutions.
Future financial objectives are to grow 10% a year organically and to actively seek outside growth opportunities via acquisitions. Intrum Justitia is trading up nearly 7% in the afternoon session. The full interim report is available from the company's site in pdf here.
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