LONDON (dpa-AFX) - International Personal Finance plc (IPF.L) on Wednesday reported profit before tax for fiscal 2019 of 114.0 million pounds, up from 109.3 million pounds in the prior year. However, earnings per share declined to 30.3 pence from 32.2 pence a year ago on higher number of weighted average shares.
The company noted that the increase in pre-tax profit was driven by strong operational execution in European home credit and the company's established digital businesses.
Revenue for the year rose 3 percent to 889.1 million pounds from 866.4 million pounds last year.
The company said that subject to shareholder approval, a final dividend of 7.8 pence per share will be payable, which will bring the full-year dividend to 12.4 pence per share. The final dividend will be paid on 11 May 2020 to shareholders on the register at the close of business on 14 April 2020.
International Personal Finance also said that Dan O'Connor has informed the Board that he intends to retire as Chairman of the company at the close of the Annual General Meeting on 30 April 2020.
The company has appointed Stuart Sinclair to the Board with effect from 16 March 2020. Subject to Stuart's election as a director at the AGM, he will succeed Dan as Chairman.
Stuart brings a background in consumer financial services with RBS, GE Capital and Provident Financial. He currently sits on the boards of Lloyds Banking Group, where he chairs the Remuneration Committee, and, as Senior Independent Director, of QBE Europe, the European subsidiary of the major Australian insurance group.
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