Turnover up for Leeds credit management specialists

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Turnover up for Leeds credit management specialists
Darwin Building, Leeds Valley Park

Lowell, the Leeds-based credit management specialists, has seen its turnover rise by 22% in what it has hailed as a “period of significant change” for the company.

For the year ending 31 December 2017, Lowell reported cash income was up by 22% reaching £590 million. EBITDA, meanwhile, was up 18% to reach £299 million.

November 2017 saw the company swoop for the carve-out business from Intrum as a new Nordic region for £640 million, with the deal completing following the end of the aforementioned trading period.

Lowell said the deal “brings further strategic diversification and growth opportunities for the Group”.

“The last 12 months have been a period of significant change for our business: embedding the new brand and the acquisition of the carve-out business from Intrum,” said Chief Exec James Cornell.

“The figures show a diversifying business that is building platforms for growth on the solid foundations of prudence and sustainability.

“These are strong results that reinforce our confidence in our strategy and how we do business, this is the Lowell Way.”