Arrow Global, a Manchester, UK-based buyer of delinquent debt from credit card companies and banks, reported that collections on the company's purchased loan portfolios rose 16% to 31.8 million pounds ($53.6 million) in the first quarter ended March 31. The company's profit in the quarter rose 17.6%

Arrow Global acquired debt portfolios with face value of 246 million pounds ($414.8 million) for 33.2 million pounds ($56 million) during the quarter.

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