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CORRECTED-Lender IPF's FY profit down 6 percent

Published 25/02/2016, 12:02 am
© Reuters. CORRECTED-Lender IPF's FY profit down 6 percent
IPF
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(Corrects revenue figure in third paragraph to 735.4 million pounds from 704.3 million)

Feb 24 (Reuters) - Consumer credit lender International Personal Finance IPF.L reported a 6 percent fall in full-year underlying pretax profit as growth in Europe slowed due to intensifying competition from payday lenders and banks, especially in Poland and the Czech Republic.

IPF, which provides small personal loans to over 2.7 million borrowers in Europe and Mexico, said pretax profit before exceptional items fell to 116.1 million pounds ($162.53 million) in the year ended Dec. 31, compared with 123.5 million pounds a year earlier. fell about 6 percent to 735.4 million pounds.

($1 = 0.7143 pounds)

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