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Independently-owned SME Invoice Finance Group has reported pre-tax trading profits of £3.78m for the year to December 2011, an increase from £3.59m for the previous 12 months. The continuing growth trend has been achieved in spite of the current industry-wide trading environment. One factor of note in the results is SME Invoice Finance Group’s decision to significantly increase its impairment provisions in light of the prevailing economic uncertainty. The group’s primary offering delivers invoice discounting, factoring and asset finance facilities to the owner-managed business sector. Established since January 2000, it currently provides circa £60m of funding to clients countrywide, serviced via operational centres in Guildford, Birmingham, Brentwood and Sheffield. Group managing director David Hogg said: “The consistency of our performance reflects the importance of building a business with strong fundamentals and solid foundations. Much of the credit must go to our fantastic team, many of whom have been with us for 10 years or more.” Other Business Money News
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