Trading Statement

S & U PLC
12 December 2002


S&U PLC

Providers of Consumer Credit and Motor Finance


S&U PREDICTS FULL-YEAR RESULTS MARGINALLY LOWER
BUT RETURN TO GROWTH TREND IN PROFITABILITY IN 2003


S&U PLC, the consumer and motor finance provider, today announce that current
trends on bad debt provisioning would see a shortfall in profitability in part
of its home credit division for the year ending 31st January, 2003 compared to
the record figures of a year ago.

After three years of record profit increases exceptional losses in the London
operation due to the fraud reported there in the Interim Statement indicate a
reduction in profitability this year in the region of 10% against last year's
profit of £9.2 million.

Nevertheless profits are likely to result in a generally satisfactory year; the
Balance Sheet remains strong and Group indebtedness is improving.  The problems
in London have now been rectified by significant management and personnel
changes and their effect will be confined to the current financial year.  Growth
will therefore resume next year.

It is probable that the Group's final dividend would be maintained at last
year's level.


ENDS

Further enquiries:       Anthony Coombs,
                         Managing Director,
                         S&U PLC
                         Tel:  [phone]  -  Mobile:  [phone]


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