Shares in financial services provider Scottish Pacific Group Ltd (ASX: SCO) are up 2.2% to $3.42 at the time of writing after the release of strong FY18 results.
Scottish Pacific has reported NPAT of $29.7 million, up 17.4% on FY17 with net revenue coming in at $108.6 million – up 8% and a total dividend of 19c per share declared.
According to its results, Scottish Pacific's focus on business management over FY18 has seen it cut costs to income to 50.2% as it reported its strongest growth in its mid-size client segment.
Looking forward, Scottish Pacific has flagged risks sitting with the underlying debtor, not the SME borrower, with the market for non-bank lenders for SMEs expanding.
Elsewhere in the consumer finance sector, shares in Eclipx Group Ltd (ASX: ECX) are also on the up, rising 1.9% to $2.62 at the time of writing.
Another one to watch is Zip Co Ltd (ASX: Z1P), with good share price gains since the release of its FY18 results on August 7.
