Wednesday, May 9, 2018
Cabot Credit Management delivers strong performance as Encore announces Cabot is to become a wholly owned subsidiary
Cabot Credit Management (Cabot), a market leader in European credit management services, today announced the financial results for the three months ending 31st March 2018.
Ken Stannard, Chief Executive Officer, Cabot Credit Management, said:
"Cabot Credit Management has again delivered another excellent first quarter performance with Debt Purchase Collections and Servicing performing strongly. Helped by continued strong performance from Wescot, servicing revenue grew by an impressive 196% versus the same quarter last year and is becoming an increasingly important source of revenue. This growth was underpinned by continued discipline in capital deployment, with an additional £50 million deployed in the past quarter helping raise our 120 month ERC by 11% to £2.4bn compared to Q1 ’17."