Thursday, November 8, 2018
Cabot Credit Management (Cabot), a market leader in European credit management services, today announced the financial results for the nine months ending 30th September 2018.
Ashish Masih, President and Chief Executive Officer of Encore Capital said
"The acquisition of Cabot strengthens our global business and establishes us as a clear leader in both the United States and in the United Kingdom, the world’s two most important markets for our industry. We expect Cabot’s debt purchasing and servicing platforms will strengthen our long-term leadership and growth in Europe through both its geographic and product diversity, as well as its broad servicing capabilities."
Ken Stannard, Chief Executive Officer, Cabot Credit Management, said:
"Our company continues to deliver a strong performance and maintain capital management discipline in a competitive market. Compared to the same period last year, our revenues have grown by 26% and we have delivered Adjusted EBITDA of £248.3m for the last nine months with consistent underlying margins and stable leverage.
Our ongoing investment in technology was underlined by winning best use of technology award at the Credit Excellence Awards with judges recognising it clearly demonstrated strong evidence of customer benefits.
Following the completion of the acquisition of the remaining interest of Cabot by Encore Capital during the quarter, we have commenced a process of integration. We have identified numerous opportunities for us to share best practices and enable us to continue to be the Best At What We Do."
Find out more about our Q3 2018 financial results, including press release, investor presentation and annual report.