Underlying conditions in the consumer debt market continue to move in favour of Invocas, the Aim-listed firm told shareholders yesterday.

Shares in Invocas rose 9p to 127.5p after chairman Howard Bell said the recent industry agreement to reduce fees for individual voluntary arrangements (IVAs) for debtors in England and Wales did not impact directly on Invocas, the market leader in Protected Trust Deeds North of the border.

However, he went on: "This all points towards the need to work with lenders to develop high quality, long-term, sustainable insolvency solutions which deliver good returns to creditors in a sensible time frame.

advertisement
"Our chosen market positioning and existing business model already puts us in a good position to benefit from changes in the dynamics of our sector.

Invocas already works in partnership with banks in the Insolvency Exchange, which is negotiating the IVA fees.

Bell added: "We are actively pursuing our strategy of broadening the range of our services by the acquisition of complementary businesses and by the in-house development of additional debt solution services."

He said referrals from new affinity partners and business from the group's new call centre and website were delivering increasing numbers of leads and steady revenue opportunities.

See Original Article

If you are concerned about insolvency in your company and would like friendly advice then call us now. We're here to keep you trading.

Call us now on: 0800 071 1616

Email us now: info@debtsgone.co.uk

See our website: www.debtsgone.co.uk