21 June 2012
Shares in financial advice group Fairpoint jumped 10% or 6.5p to 68p today after it said profits would be better than expected thanks to improved claims management revenues from its IVA business.
The firm, which targets those with financial problems, said underlying IVA demand remains “subdued” but the claims management side of the business which it launched in the second half of last year had shown strong growth in revenues and profits.
It also said that net debt had fallen from £6.4 million at its December year end to £1.6 million today.
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