Arrow Global, a Manchester, UK-based buyer of delinquent debt from credit card companies and banks, posted a healthy increase in collections and earnings in the first nine months of 2013, the company's first earnings release since going public.
The company reported that cash collections jumped 45% to $152.7 million and income rose 86% to $29 million.
Arrow Global started trading its shares on the London Stock Exchange earlier this fall. The companys stock launched at $3.30 (205 pence) per share.
Arrow at the time of the IPO owned and managed an estimated $12.5 billion of delinquent consumer debt.
The IPO raised an estimated $305 million, $80 million going to the company. The initial share price valued the business at $576 million. Since the IPO, the firms stock price has increased about 12.5%.
The company's work mostly involves using technology and data analytics to identify and track down debtors when their contact information has been lost by original lenders. Once it has the information it uses third-party collectors to pursue the debt.
The largest UK debt purchasers include Cabot Credit Management, Lowell Group, Arrow Global, CapQuest, Marlin Financial Group, Link Financial and Max Recovery.