S&U (SUS) investor relations material

Executive summary

• Profit before tax was stable at £15.7m for H1 2027, with net group receivables rising to £541.0m, reflecting strong lending growth and continued investment in technology and AI.

• Revenue increased 11% year-over-year to £57.3m, and basic earnings per share improved to 96.8p.

• The first interim dividend was raised to 36p per share, with further increases anticipated.

• Significant investment in technology, AI, and credit risk capabilities to support growth and operational efficiency.

Financial highlights

• Revenue up 11% to £57.3m, driven by higher average receivables and improved margin deals.

• Group impairment charge steady at £8.2m despite increased lending.

• Net borrowings increased to £285.1m, with gearing at 114%.

• Cost of sales rose 32% due to higher volumes; finance costs up 30% in line with increased borrowings.

• Group equity increased 4% to £251.0m.

Outlook and guidance

• Ambition to double market share in non-prime motor finance over five years, leveraging strong demand and new origination channels.

• Securitisation deal expected to increase funding capacity from £337m to £650m and reduce funding costs.

• Expects sustainable profit and dividend growth as investments mature.

• Anticipated earnings recovery with profit growth loaded into future years.

• Optimistic about future growth despite economic and political uncertainty.