International Personal Finance (IPF) H2 2025 earnings summary

Executive summary

• Delivered profit before tax of GBP 88.6 million, up 4% year-over-year, driven by strong demand and disciplined execution of the Next Gen strategy.

• Achieved strong full-year performance with improved growth momentum and robust credit quality across all divisions.

• Next Gen strategy delivered scale and efficiency, supporting sustainable growth and long-term value.

• Customer numbers rose 4.7% to 1.729 million, marking the first meaningful growth in over a decade.

• Board proposed a final dividend of GBP 0.09 per share, up 12.5% year-over-year.

Financial highlights

• Pre-exceptional profit before tax rose 4% to GBP 88.6 million compared to the prior year.

• Revenue increased 1.5% to GBP 737.5 million; closing net receivables up 22% to GBP 1,061.3 million.

• Pre-exceptional EPS increased by 5.6% to GBP 26.3; reported EPS fell 9.2% due to prior year tax credit.

• Exceptional one-off costs of GBP 3.3 million incurred related to a potential acquisition.

• Dividend payout ratio reached 49%, above the 40% target.

Outlook and guidance

• Additional GBP 5 million annual investment planned for growth initiatives over the next 2–3 years.

• CapEx to rise to GBP 45–50 million in 2026–2027, then normalize to GBP 25–30 million from 2028.

• Targeting 2.5 million customers in the medium to long term, up from 1.7 million.

• Monitoring regulatory changes, particularly the EU Consumer Credit Directive II.

• Growth opportunities identified in Mexico and Australia, with increased investment in new initiatives and technology.