IPF turn on the lending taps

Michael Bow
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DOORSTEP lender International Personal Finance (IPF) made a record first quarter profit this year after lending more money to people in its key markets in eastern Europe.

The FTSE 250 listed company rose about 11 per cent in trading yesterday after revealing a £9.1m quarterly profit, up from £6.1m posted a year ago.

Customer growth of 2.7 per cent and an 11 per cent hike in credit issued helped increase revenues by about eight per cent.