Cattles has strong start to 2008
Cattles Plc said on Friday that it had a strong start to the year and that trading conditions for the business were favourable. The sub-prime lender said that it was achieving higher margins on its new lending volumes and had tightened its lending criteria.
Disney case highlights China supply pitfallsIn a statement the company said, "The Group continues to progress its 2008 debt funding and has obtained a total of £200 million net new bank facilities in two tranches in the year to date. Cattles is confident that it will obtain the remaining £100 million of new debt funding which it requires to finance its 2008 business targets. The Group continues to be well funded and the proposed Rights Issue provides the Group with an appropriate capital base to support its application for a banking licence.
"We look forward to the continued successful development of the businesses and view the Group's prospects for 2008 with confidence."
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