S&U — From consolidation to opportunity

S&U’s preliminary results for FY25 reflect a year of consolidation for its Advantage motor finance business in challenging regulatory conditions, countered by the continued impressive growth of its Aspen property bridging operation. The motor finance arm has faced significant headwinds from the Financial Conduct Authority’s (FCA’s) Cost of Living Forbearance outcomes review, which resulted in voluntary restrictions on lending criteria and collections processes. With this review now concluded and enhanced procedures agreed, Advantage is poised for an earnings recovery over the next two years.