Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Payday lender Morses Club increased its revenue but saw its pre-tax profit fall in its financial year ending 29 February 2020, it announced today.
Revenue for the year increased by 14.3% to £133.7 million, the company reported in its preliminary results statement.
Statutory profit before tax was £11.5 million, down from £22.2 million the previous year.
Morses Club reported a 9% increase in customer numbers to 255,000, boosted by the launch of its online portal, which had 78,000 users by the end of the period.
It also acquired two businesses - CURO Transatlantic and U Holdings - adding 55,000 customers.