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MCB Finance Group

  • BY: Andrew Hore |
  • POSTED: 28/12/2011 |

Personal credit provider MCB Finance Group says trading remains strong as lending grows and credit performance improves.

MCB has lent 65% more in the second half of 2011 than it did in the same period in 2010.

MCB says that its 2011 figures will be slightly better than expected. Edison had forecast a profit of €3.4m for 2011.

At 42.5p a share, up 3.5p, MCB is trading on less than three times prospective earnings. The share price is still well below the 52p that it was trading at prior to the announcement that it was going to cancel its Aim quotation last summer – although this decision was subsequently reversed.

MCB provides loans under the Credit24 brand in Finland, Estonia, Latvia and Lithuania. All of these markets are growing and they are also profitable. There are plans to move into a new market in the first half of 2012.

MCB is valued at £7.1m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf

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