INVO Invocas

RNS Number:2102I
Invocas Group plc
30 August 2006


                                                                  30 August 2006
                               INVOCAS GROUP PLC
                           ("Invocas" or the "Group")
                     TRADING UPDATE & LAUNCH OF NEWTOMORROW

Invocas Group plc, Scotland's leading personal and corporate debt solutions
company, today announce a trading update and the launch on 28 August of our
direct to the consumer debt advice service called Newtomorrow.

We continue to make excellent progress in delivering our growth strategy and are
uniquely well positioned to significantly benefit from the increasing demand for
our services. All the indications are that the number of indebted consumers
struggling to meet their financial commitments is growing. The recent increase
in interest rates is likely to exacerbate these difficulties which in turn will
feed through into rising numbers of Trust Deeds and corporate insolvencies.
However, we continue to apply our unique minimum case acceptance criteria with a
view to delivering truly sustainable solutions and optimum returns to creditors.

Highlights include:

   * Trust Deed appointments for the first six months of calendar 2006
     increased 25% to 706 (2005: 567);

   * Trust Deed appointments in July and August continue to show significant
     increases on the corresponding period in 2005 and a number of new work
     sources have been secured;

   * Market growth in Trust Deeds can be summarised as follows:

                               2004        2005        2006 (Annualised)

Total market appointments     6,023       6,864       8,218

Year on year increase          10.5%       14.0%       19.7%

Invocas' appointments           941       1,069       1,432

Year on year increase          14.3%       13.6%       34.0%

Invocas' market share          15.6%       15.6%       17.4%

   * Our Corporate Services division continues to perform well with
     appointment numbers 50% ahead of 2005 on an annualised basis;

   * The Wilson & Co acquisition has been successfully integrated and the
     Board continues to assess a number of acquisition opportunities which would
     broaden the base of the core personal debt solutions business;

   * The Newtomorrow call centre went live on 28 August 2006 in tandem with a
     full-scale trial launch of the Newtomorrow brand in the Tayside area. We
     expect to roll out Newtomorrow to the rest of Scotland over the coming
     months.

John Hall, Chief Executive of Invocas, commented:

"I am pleased to report that both our core trust deed and corporate services
businesses continue to go from strength to strength. Significant growth in
appointment numbers has been achieved which we expect to accelerate as a result
of the launch of Newtomorrow. I look forward to reporting on further progress in
due course."

For further information:

Invocas Group plc                      Tel: 0131 225 4661
John Hall, Chief Executive
Stephen Lightley, Finance Director

Fishburn Hedges                        Tel: 020 7839 4321 or 07747 113 930
James Benjamin                         James.benjamin@fishburn-hedges.co.uk

Charles Stanley Securities             Tel: 020 7149 6000
Duglad Carlean
Henry Fitzgerald-O'Connor

                            Website: www.invocas.com

Notes to editors

Invocas is a market leader in debt solutions in Scotland. Our Personal
Insolvency Division is firmly established as the number one provider of
Protected Trust Deeds (Scottish equivalent of IVAs). Our Corporate Services
Division has grown rapidly in recent years and already enjoys an excellent
reputation in the Scottish market place.

Invocas is unique in applying minimum case acceptance criteria to Trust Deeds.
We will only accept a case if it is likely to progress smoothly to completion
and result in a successful outcome which balances the interests of both the
indebted individual and their creditors. Our significant growth needs to be
evaluated in this context.

Our Newtomorrow service aims to provide indebted individuals with the right
advice, first time, every time. This will be achieved in a caring and
professional manner by a team of highly experienced debt advisors delivering
front line advice. Further information on Newtomorrow can be found at
www.newtomorrow.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
TSTAKCKPOBKDDFB

Invocas (LSE:INVO)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Invocas (LSE:INVO)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024