Premium Credit makes 54.7% profit margin in ‘strong’ 2022 results
Premium Credit CEO Tara Waite said the firm had a ‘strong’ set of results after it continued to expand even further on its profit margins.
The 2022 annual report also revealed that former RSA UK and International CEO Scott Egan has now become the chairman.
The premium finance provider posted £67.8m of operating profit against total income of £123.8m in 2022, making a 54.7% profit margin.
Although our growth was excellent and ahead of our expectations, our Ebitda would have been even stronger if not for the rapidly changing interest rate environment. Tara Waite
In 2021, the firm made £54.6m against total income of £113.8m –
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