Bibby Financial Services (BFS) has reported that it completed 609 new deals, agreeing upwards of £146m to new clients in the first half of the year.

BFS has seen significant growth in factoring and invoice discounting agreements, on top of strong performance of its niche products division, including Trade and Export Finance and Construction Finance.

David Postings, BFS chief executive, said results have been achieved in a tough market. He said: “Our first half results are impressive in any market, but even more so in a relatively slow growth economy.

“This is a fantastic achievement and it clearly demonstrates the calibre of people, and breadth of experience we have in our teams across the country, as well as the great service we offer.

“In addition to an uplift in factoring and invoice discounting deals, compared with the first half of 2014, we have significantly grown new business for Construction Finance and Trade Finance client numbers have doubled.”

Postings added: “We’re extremely grateful to the introducer community that has continued support us in developing new business.

“In addition to working with established partners, our teams have been able to develop new relationships in the first half of the year and this has had a huge impact on the number of funding agreements we have made.”