BusinessBusiness RecoveryAccuma sees strength in IVA market

Accuma sees strength in IVA market

Debt advisor posts strong interims, and says it still sees 'significant growth' in the IVA market

Debt advisor
Accuma
has said there is still ‘significant growth’ in the IVA market, after
posting strong interims.

Despite a number of IVA factories issuing profit warnings in recent weeks
(resulting from fears that the number of IVAs filed is reducing), Accuma chief
executive Charles Howson said the sector would experience
‘significant growth’.

The group’s review stated that it believed there had been ‘short-term
pressure’ on the IVA sector.

Despite the positive sentiment towards the IVA market, the group is now less
reliant on IVAs. The group’s figures have remained solid due to spreading its
portfolio of products through acquisitions, moving into informal debt
management, re-mortgaging and loans.

Turnover for the six months ended 31 January were £10.6m, compared with £4.1m
a year earlier. Profit before tax and amortisation was £1.6m.

Further reading:

IPA to act as debt watchdog

IPA considers insolvency-lite licence

New insolvency qualification to deliver IVA specialists

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