Consolidated statement of comprehensive income

For the year ended 31 December 2016

 

31 December

31 December

2016

2015

£000

£000

Continuing operations

 

 

 

Revenue

 

 

 

Income from purchased loan portfolios

 

188,914

150,238

Profit on portfolio sales

 

701

503

Total revenue from portfolios

 

189,615

150,741

Income from asset management

 

46,315

14,713

Total revenue

 

235,930

165,454

Operating expenses

 

 

 

Collection activity costs

 

(70,261)

(52,303)

Recurring other operating expenses

 

(65,615)

(34,205)

Non-recurring other operating expenses

 

 

 

 

Costs arising from business acquisitions

 

(5,022)

 

(1,491)

Company integration

 

-

(1,452)

IPO related costs

 

-

(1,366)

Total other operating expenses

 

(70,637)

(38,514)

Total operating expenses

 

(140,898)

(90,817)

Operating profit

 

95,032

74,637

Finance income

 

813

152

Recurring finance costs

 

(48,847)

(36,760)

Non-recurring finance costs

 

 

 

 

Bond related and RCF refinancing costs

 

(17,994)

-

Total finance costs

 

(66,841)

(36,760)

Share of profit in associate net of tax

 

2,363

 

1,243

Profit before tax

 

31,367

39,272

Recurring taxation charge on ordinary activities

 

(8,816)

(8,180)

Tax on non-recurring items

 

3,755

657

Taxation charge on ordinary activities

 

(5,061)

 

(7,523)

Profit after tax

 

26,306

 

31,749

Other comprehensive income:

 

 

 

Items that are or may be reclassified subsequently to profit or loss:

 

 

 

 

FX translation difference arising on revaluation of foreign operations

 

5,954

 

34

Hedging movement

 

670

 

(615)

Items that will not be reclassified to profit or loss:

 

 

 

 

Remeasurements of the defined benefit liability

 

(10)

 

-

Total comprehensive income

32,920

31,168

Profit after tax attributable to:

 

 

 

 

Owners of the company

 

26,305

 

31,749

Non-controlling interest

 

1

 

-

 

 

26,306

 

31,749

Underlying profit after tax

 

45,567

 

35,401

Basic EPS (£)

 

0.15

 

0.18

Diluted EPS (£)

 

0.15

 

0.18