S&U (SUS) Q4 2026 TU earnings summary

Executive summary

• Trading momentum remained strong through year-end, with expectations of robust full-year results despite a challenging UK economic environment.

• Share price increased by 20% since the last update, reflecting investor confidence and recognition of value in family-controlled SMEs with strong dividend policies.

Financial highlights

• Group net receivables rose to approximately £495m from £436m year-over-year.

• Advantage Finance loan advances for the year were over 65% higher than last year; capital receivables reached about £385m.

• Aspen Bridging achieved record lending of £212m, with deal numbers up over a third to 267 and capital receivables up 21% to £188m.

• Sale of long-term written-off accounts generated £3.4m in proceeds.

Outlook and guidance

• Anticipates further growth opportunities in longer-term products and small-scale development finance.

• Additional funding secured to support predicted growth, with RCF facilities increased from £230m to £280m and plans for longer-term financing.

• Expects a gradually reviving UK residential market and increased demand from smaller developers.