Skipton Business Finance (SBF) has posted a 13% rise in pre-tax profits to £10.8 million for 2024.
The provider of working capital solutions for UK businesses, which is part of the Skipton Group, reported a 19% rise in collective turnover among the businesses it serves from £2.1 billion to £2.5 billion.
Greg Bell, CEO of Skipton Business Finance, said: “2024 was a pivotal year for us, demonstrating our steadfast commitment to supporting businesses across the UK. Achieving a record £2.5 billion in turnover across the businesses we serve and a 13% increase in profitability reinforces our position as a key provider of flexible and accessible funding solutions.
“As we look ahead, our strategic, client-centric focus remains on innovation, strengthening our relationships with intermediaries, and ensuring businesses have the financial resources required to drive sustainable growth.”
Meanwhile, the company’s annual client survey saw satisfaction levels in its services rise to 98.64% from 97.43% in 2023.
Stuart Haire, group CEO of Skipton Group, added: “Skipton Business Finance is a core component of the Skipton Group, playing a vital role in our commitment to supporting financial wellbeing and driving business growth across the UK.
“Its exceptional performance in 2024, including record lending and increased client satisfaction, underscores the team’s dedication to empowering UK B2B businesses – an essential pillar of the UK economy.
“SBF’s commitment to delivering accessible and flexible funding solutions aligns seamlessly with our group’s broader purpose of enabling businesses and individuals to achieve long-term financial stability. We commend their achievements and look forward to their continued success.”
