Anexo Group PLC on Wednesday said its profit grew by more than 50% in 2021, a ‘successful’ showing despite facing Covid-19 uncertainty.

For 2021, the Liverpool-based credit hire and legal services provider’s total revenue was £118.2 million, up 36% to £86.8 million in the previous year.

Pretax profit was £23.7 million, up 53% from £15.5 million in the previous year.

‘Opportunities within the Credit Hire division have never been so strong. Consequently, the number of new cases funded rose from 7,535 to 10,265,’ the company said.

Its Housing Disrepair Division will also become a significant contributor to future revenues, the company said.

Chair Alan Sellers said: ‘I am pleased to report that the group has had a successful 2021, building on the achievements of 2020. The results demonstrate the resilience of the group’s business model, as we improved on last year’s cash collections, whilst still facing uncertainty due to the Covid-19 pandemic. Group revenues in 2021 increased by over a third compared to the previous year.

‘The growth of our Housing Disrepair Division throughout 2021, as well as our already resilient business model, presents an exciting outlook for the year ahead.’

Anexo declared a final dividend of 1.0p per share. The total dividend for 2020 was 1.5p per share, unchanged from 2020.

Anexo shares were up 3.6% at 129.50 pence each on Wednesday morning in London.

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