Financial growth in the first half
Good Finance publishes his report for the first six months of the 2015 financial year. Revenue for the first half of 2015 increased by 61.5%; Earnings before interest and taxes increased by 27.5% to EUR 6.8 million; Pre-tax profit increased by 55.8% to EUR 5.7 million; Consistent implementation of the growth strategy: market entry in new countries and diversification of the product range contribute significantly to the positive development of the company.
Good Finance Group, a leading international mobile consumer lending company and one of the first in the field of financial technology, announced the leading financial data for the first six months of the 2015 financial year. By achieving significant growth in both revenue and profit, Good Finance announced a successful first half of 2015. The second quarter revenue development reflects the overall positive business development since the beginning of 2014.
Positive business development
The consistent implementation of Good Finance’s growth strategy is the key to a positive business development. The company continued its geographical expansion during the reporting period through the entry into the markets of Canada, Norway and France. Good Finance currently operates in 22 countries around the world.
The company also noted significant achievements in the first half of 2015 in terms of diversifying its products: the monthly installment loan is currently available in nine countries, and the Credit Limit product is already available to customers in six countries. Mr John Cole, founder and CEO of Good Finance Group, outlined the company’s strategy: “With these two new loan products, we can now offer our customers higher amounts and longer repayment periods, such as While revenue from the company’s classic micro-credit product (payday loan) rose only 23% at the end of the reporting period, we see growth rates of 202% and 201% for Good Loan products and Credit Limit, which together account for 40% of the total January sales volume. “
Future of the company
John Cole concluded a positive conclusion and expressed her optimism for the future of the company: “We successfully use our skills and competitiveness by optimizing the process of credit assessment, creating effective online processes, fast service, which combined with our long experience allows us to grow our business at a rapid pace. We are continuing to fully prepare for the launch of new mobile financial services. We expect to launch some of these in the second half of 2015. “