INVO Invocas

RNS Number:0401V
Invocas Group plc
18 April 2007

18 April 2007

                               INVOCAS GROUP PLC
                           ("Invocas" or "the Group")

                            PRE-CLOSE TRADING UPDATE

Invocas, one of the UK's leading providers of personal and corporate debt
solutions, is pleased to provide the following update on trading in advance of
its preliminary results for the 54 week period ended 31 March 2007.

Trading for the period has been strong with levels of activity and revenue
increasing in line with market expectations. This reflects the robust growth in
personal insolvency services, which remain the Group's principal activity. The
Board estimates that the Scottish market for Protected Trust Deeds is growing by
approximately 20% per annum and the Group continues to win market share.

We continue to apply our minimum case acceptance criteria to Protected Trust
Deeds and to interview debtors in person with a view to delivering truly
sustainable solutions and optimum returns to creditors, aided by one of the
industry's lowest case failure rates. This strategy is serving the Group well. 
The increasing scrutiny by creditors and their representatives of fees and
dividend levels included in Protected Trust Deed proposals has not resulted in
any significant increase in the number of our proposals being rejected by
creditors, nor has it had any impact on the level of our fees.

Invocas is working closely with the Debt Resolution Forum which intends to
introduce best practice standards and we look forward to these being launched in
consultation with the British Bankers Association. Although focussed on the
English IVA market, we believe the introduction of these standards will help to
alleviate much of the uncertainty which currently surrounds the sector to the
ultimate benefit of those, like Invocas, whose approach balances the interests
of all stakeholders.

Additionally, Invocas, as a professional services company, continues to
recognise revenue on the basis of the amount of work done by staff, as we have
always done. Therefore, the level of our revenue is spread over the life of the
Trust Deed in direct proportion to the amount of time spent by staff working on
a particular case.

Current trading remains strong, confirming the scale of the market and
opportunities available to Invocas in the debt solutions market. The board
continues to look for appropriate acquisition opportunities among related and
complimentary businesses and we believe that our unique "professional services"
ethos leaves the Group ideally placed to take full advantage of significant
growth opportunities in 2007 and beyond. We look forward to reporting further
progress in our preliminary results statement on 27 June 2007.

                         Website: www.invocas.com

For further information:

Invocas Group plc                   Tel: 0131 222 2460
John Hall, Chief Executive
Stephen Lightley, Finance Director

Fishburn Hedges                     Tel: 020 7544 3133 / 07747 113 930
James Benjamin                      invocas@fishburn-hedges.co.uk
Andy Berry

Charles Stanley Securities          Tel: 020 7149 6000
Russell Cook
Henry Fitzgerald-O'Connor

Notes to editors

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

Invocas applies minimum case acceptance criteria to Trust Deeds. It 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.

Its Newtomorrow service aims to provide indebted individuals with the right
advice, first time, every time. This is 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
TSTUBAKRBKRSAAR

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