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Scottish Pacific records 23.4 percent turnover growth

Australia's largest specialist debtor finance provider announces $1.02 billion increase in annual turnover for 2014

MARCH 2015 - Scottish Pacific Debtor Finance CEO, Mr Peter Langham, said the group recorded 12 month turnover in 2014 of $5.38 billion, which is up 23.4 percent from the 2013 result of $4.36 billion.

The result was on the back of strong demand from SMEs across a range of sectors looking to fund growth.

Funds advanced by Scottish Pacific peaked in December 2014 at $405 million, compared with $320 million in December 2013.

Scottish Pacific has SME clients around Australia, predominantly in industries such as transport and logistics, wholesale, manufacturing, labour hire, business services and recruitment. Client numbers have grown from 867 in June 2013 to 967 in December 2014.

Mr Langham forecast a pre-tax profit of $19 million, tracking towards profit growth of 25 percent.

The industry body DIFA reports that its members overall have not experienced growth over the past 12 months to December 2014. DIFA members have a $62.7 billion turnover and provide vital funding to startup and SME businesses looking to fund growth.

Scottish Pacific's share of industry turnover amongst DIFA members doubled to 7.22 percent in the three years to 2013. Since then its share has grown to 8.6 percent.

Scottish Pacific has been operating in Australia and New Zealand for more than 26 years and provides facilities to enterprises from start up to $200m turnover.

"About one in five businesses using debtor finance are with Scottish Pacificand we continue to play a significant role in funding Australian SMEs, providing a range of working capital solutions," Mr Langham said.

About Scottish Pacific

Scottish Pacific Debtor Finance Pty Ltd provides working capital solutions to SMEs, offering the broadest range of trade and debtor finance solutions in Australasia. Established in 1988, Scottish Pacific has full operations centres in Sydney, Melbourne, Perth, Brisbane, Auckland and China. Scottish Pacific was awarded the 2014 Best Cash Flow Lender by broker publication The Adviser, as voted by brokers, in their inaugural Non-Bank Lending Awards.


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