Manx Financial Group - Well prepared for potential headwinds

Manx Financial Group (Manx) posted its highest ever first half year profit in the six months to 30 June, with PBT of £3.5m increasing 16% y-o-y. Lending growth, particularly that of higher-yielding Payment Assist (PAL) loans, continues to offset higher funding costs. Management noted the growing macroeconomic risks to wider trading conditions, but Manx should nonetheless benefit from falling interest rates and the immediately accretive acquisition of the outstanding shareholding in PAL.

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