by Michael Susin
Shares of International Personal Finance PLC rose on Wednesday after the company reported a turn to pre-tax earnings in 2021 due to a low impairment charge, and said it will resume paying dividends.
Shares at 0844 GMT were up 10.6 pence, or 8.7%, at 133.0 pence.
The London-listed credit company posted a pre-tax profit of 67.7 million pounds ($92 million) compared to a loss of GBP40.7 million for 2020.
Revenue decreased to GBP548.7 million from GBP661.3 million, while the company’s impairment charge fell to GBP56.2 million from GBP250.1 million.
The company said it expects to continue executing on its growth strategy as it sees significant long-term demand for affordable credit in all of its markets.
The board declared a final dividend of 5.8 pence per share.
It also agreed to introduce a progressive dividend policy and said that future interim dividend payments would be set at 33% of the previous year’s full dividend payments.
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