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International Personal Finance Swings To Profit In FY21

International Personal Finance (IPF.L), a home credit and digital business, on Wednesday posted a turnaround to profit for the fiscal 2021, reflecting decline in costs, impairment.

For the fiscal 2021, the Leeds-headquartered credit firm reported pre-tax profit of 67.7 million pounds compared with a loss of 40.7 million pounds last year. Profit after tax was recorded at 41.9 million pounds compared with a loss of 64.2 million pounds a year ago.

IPF reported its earnings per share at 17.8 pence as against loss per share of 27.4 pence, reported a year ago.

The company recorded its total costs and impairment for the 12-month period at 424.8 million pounds and 56.2 million pounds, respectively, compared with 451.9 million pounds and 250.1 million pounds, on year-on-year basis.

The company will pay final dividend of 5.8 pence per share on May 6, bringing the full-year dividend to 8 pence, to shareholders of record on April 8.

For the previous fiscal, the company generated revenue of 548.7 million pounds, compared with 661.3 million pounds, recorded for 2020.

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