Debt Free Direct Group PLC
11 April 2006
11 April 2006
DEBT FREE DIRECT GROUP PLC
CAPACITY INCREASED TO MEET DEMAND
The IVA market continued its strong growth in March, with volumes up 29% on the
previous month and 155% on March 2005.
Debt Free Direct maintained its market share at just under 20%. Volumes are
continuing to grow rapidly and work in progress is at record levels. With this
in mind, the company is taking on new leasehold premises that will more than
double its capacity to process IVAs. These new facilities will become fully
operational in October 2006. Meanwhile, the company has brought on stream
facilities in Northern Ireland capable of completing 150 IVAs per month with
immediate effect. This capacity is expected to double over the next 12 months.
Andrew Redmond, CEO, commented 'We are very pleased with our continuing
progress. Expanding capacity to handle the ever increasing volumes of business
generated by our advertising has always been a challenge. The steps announced
today will ensure that we can continue our rapid growth trend.'
Enquiries:
Debt Free Direct Group plc
Andrew Redmond, Chief Executive Officer 01257 240599
Paul Latham, Finance Director 01257 240529
Numis Securities
Iain McDonald 020 7776 1500
Lee Aston
Financial Dynamics 020 7831 3113
Ed Gascoigne-Pees
Nick Henderson
Notes
The number of completed IVAs per month quoted above is consistent with official
statistics, i.e. recording a joint IVA as two cases.
This information is provided by RNS
The company news service from the London Stock Exchange
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