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International Personal Finance's first-half profit rises

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International Personal Finance's first-half profit rises

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(Reuters) – Consumer credit lender International Personal Finance <IPF.L> reported a higher pretax profit from continuing operations in the first half, boosted primarily by positive currency translations. IPF, which provides small personal loans to more than 2.8 million borrowers in Europe and Mexico, said pretax profit from continuing operations rose to 43 million pounds ($56 million) in the six months ended June, from 33 million pounds a year earlier. Positive forex movements added 6.7 million pounds to the group’s profit. Revenue rose 2.6 percent to 400.8 million pounds. “Our ongoing European home credit businesses performed in line with expectations, Mexico continued to deliver positive business momentum and IPF Digital reported excellent top-line growth,” Chief Executive Gerard Ryan said.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)
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