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As a specialist lender, S&U is sensitive to the economic background, but in its main motor finance business it has a strong track record of managing and growing through bumpy conditions. The newer property bridging business is maturing and shares a focus on customer service and a conservative underwriting approach. This provides the group with a sound basis for sustainable long-term growth.

As a specialist lender, S&U is sensitive to the economic background, but in its main motor finance business it has a strong track record of managing and growing through bumpy conditions. The newer property bridging business is maturing and shares a focus on customer service and a conservative underwriting approach. This provides the group with a sound basis for sustainable long-term growth.

S&U - Confident but remaining prudent in approach

S&U’s year-end trading update confirmed that trading for both Advantage motor finance and Aspen property bridging has remained excellent since its last update in December. Full-year results, due on 28 March, are expected to meet expectations and be above budget. The economic background and tightened lending criteria are likely to have an impact in FY24, but there is still scope for more measured, responsible growth in S&U’s areas of specialist lending expertise.

S&U’s year-end trading update confirmed that trading for both Advantage motor finance and Aspen property bridging has remained excellent since its last update in December. Full-year results, due on 28 March, are expected to meet expectations and be above budget. The economic background and tightened lending criteria are likely to have an impact in FY24, but there is still scope for more measured, responsible growth in S&U’s areas of specialist lending expertise.

S&U - FY23 results set to meet expectations

Lending growth in the August to December period has been ahead of our expectation, while credit quality in both motor finance and property bridging remains strong. S&U is sensitive to the macroeconomic background and continues to adjust its lending criteria accordingly to protect customers and credit performance. This provides a sound basis for further sustainable growth.

Lending growth in the August to December period has been ahead of our expectation, while credit quality in both motor finance and property bridging remains strong. S&U is sensitive to the macroeconomic background and continues to adjust its lending criteria accordingly to protect customers and credit performance. This provides a sound basis for further sustainable growth. 

With macroeconomic clouds gathering, it is not surprising that a small specialist non-bank lender such as S&U has been derated. However, the main business has a long track record and the group is managed in a conservative way focusing on customers, targeting sustainable long-term growth and employing relatively low gearing.

With macroeconomic clouds gathering, it is not surprising that a small specialist non-bank lender such as S&U has been derated. However, the main business has a long track record and the group is managed in a conservative way focusing on customers, targeting sustainable long-term growth and employing relatively low gearing.

S&U - Experienced specialist lender performs well

S&U’s lending growth has been ahead of expectations in H123, despite relatively weak consumer confidence and a conservative underwriting policy. Credit quality has also remained high and the group continues work to underpin this for the future. This and the group’s experience of previous credit cycles should stand it in good stead to address the potential pressures arising from economic headwinds.

S&U’s lending growth has been ahead of expectations in H123, despite relatively weak consumer confidence and a conservative underwriting policy. Credit quality has also remained high and the group continues work to underpin this for the future. This and the group’s experience of previous credit cycles should stand it in good stead to address the potential pressures arising from economic headwinds.

United Kingdom

S&U plc is a UK-based specialist motor finance and property bridging lender. It operates through its trading subsidiaries, Advantage Finance Limited, which provides non-prime motor finance, and Aspen Bridging Limited, which focuses on property bridging finance. The company was founded in 1938 and is headquartered in Solihull, United Kingdom.

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S&U (SUS LN)

S&U - Confident but remaining prudent in approach

As a specialist lender, S&U is sensitive to the economic background, but in its main motor finance business it has a strong track record of...

Edison Investment Research

S&U - FY23 results set to meet expectations

S&U’s year-end trading update confirmed that trading for both Advantage motor finance and Aspen property bridging has remained excellent since...

Edison Investment Research

S&U - Positive trading update

Lending growth in the August to December period has been ahead of our expectation, while credit quality in both motor finance and property bridging...

Edison Investment Research

S&U - Experienced specialist lender performs well

With macroeconomic clouds gathering, it is not surprising that a small specialist non-bank lender such as S&U has been derated. However, the...

Edison Investment Research

S&U - H1 growth ahead of expectations

S&U’s lending growth has been ahead of expectations in H123, despite relatively weak consumer confidence and a conservative underwriting...

Edison Investment Research

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