SBF saw impressive growth across its client numbers and advances to clients as well as an increase in full year profits for the seventh consecutive year.
Key highlights include:
- 12% increase in client numbers;
- Client turnover up by 11% to £0.8bn;
- Growth in advances to clients of 12% to £72m;
- Revenue up 9% and a corresponding 8% increase in profit before tax to £3.2m
SBF is continuing its expansion plans following the opening of the new southern office in Bracknell to complement the existing regional centres in Leeds, Manchester and Birmingham. This is in addition to its North Yorkshire head office, at The Bailey in Skipton.
Greg Bell, SBF’s Managing Director, said: “I’m very pleased with another strong set of results. Our primary purpose is to help owner managed businesses grow and develop - and in turn help to create wealth and employment in their local communities. Skipton Business Finance is focused on helping our SME clients achieve their full potential by ensuring that the ambition of the management team is equally matched with the financial support we can provide to help them achieve future success.
“SBF is accredited with the government’s Enterprise Finance Guarantee Scheme. This allows clients access to funds over and above a traditional invoice finance facility for specific projects or development that will benefit the company’s future prosperity.
“By using the EFG scheme effectively clients can take advantage of opportunities for expansion or acquisition as well as alleviating short term cash flow pressures.
“I also love the fact that we can take a phone call from a business on a Monday and have funds advanced by Friday if necessary.”’
Alex Robinson, SBF’s Chairman said: “I’m very proud of SBF’s achievements and continue to support its growth strategy to deliver funding to SMEs across the UK.”’