Specialist funder completes £7.89bn in 2012

A Liverpool-based specialist funding provider has announced that it financed debts and transactions with a total value of £7.89 billion in 2012.

Bibby Financial Services, which provides debt factoring to SMEs across international markets, reported this week that it increased its revenues by 5 per cent to £169 million for the year - financing debts and transactions with a total value of £7.89 billion.

Profits at the Bibby Line Group however fell after a difficult year. The diverse group, with interests spanning financial services, shipping, retail and haulage - reported a fall in profits despite an 8.7 per cent rise in turnover to £1.4 billion.

The long-standing, family-owned group said operating profits had fallen by around a third to £46.4 million in 2012 after a record year in 2011, when the group made £63.8 million.

Managing Director Sir Michael Bibby appeared bullish as he proclaimed that 2012 could be seen as “a stepping stone to greater things”.

The group invested more than £100 million in its assets and businesses against a backdrop of more difficult trading conditions across many of its markets.

Sir Michael Bibby said: “Although 2012 was a difficult year with reduced profitability, in part due to market conditions and our investment in developing long term value, the hard work of our businesses is already bearing fruit in 2013.”

Bibby Financial Services is a global financial services provider which assists 3,000 UK businesses and has over 4,500 clients worldwide.

It is the largest independent factoring and invoice discounting company in the UK, helping businesses for 28 years.
The company has also been awarded Best Factor and Discounter every year at the National Association of Commercial Finance Brokers (NACFB) Awards.