Partner Article

Positive see profits rise by 80% in 2015

Manchester based invoice finance specialists Positive Cashflow Finance (“Positive”) have revealed an 80% increase in pre-tax profits, growing from £780,000 to £1.4m after recording a record turnover of £4.2m in the year ending November 2015.

Established in December 2007 and now wholly owned by David Smith, Phil Chesham, Simon Cook and Peter Davis, Positive employs 30 staff. They offer funding to businesses looking to borrow from £10,000 up to £1million. In addition to the head office in Manchester, Positive have had an office in Birmingham since 2012 which is headed up by Paul Varley.

The business, which provides working capital facilities, focusses on owner managed companies, ranging from new start ventures to businesses with sales of up to £10million. They have clients throughout the UK, with the majority based throughout the North of England and the Midlands.

Positive support a diverse range of businesses in a number of sectors while remaining loyal to the core industries of manufacturing, recruitment, transport, engineering and printing. The funding provided has been used for acquisitions and MBO/MBI’s as well as generic refinancing and increasing working capital.

Commenting on the results, David Smith, managing director said: “The market is as competitive as ever, yet we have had a record year. This demonstrates the value of the reputation we have built up with our introducer base and the quality of the service we provide.”

This was posted in Bdaily's Members' News section by Nick Chapman .