Hitachi Capital Consumer Finance announces record results

Hitachi Capital Consumer Finance one of the UK's leading finance providers of point of sale (POS) credit facilities and part of Hitachi Capital (UK) PLC has today announced their results and reported a 40% growth in volume.

This comes the day after the latest figures from the Finance and Leasing Association (FLA) which announced in-store credit, which accounts for 1.5% of the credit market, was up by 24% in March (to £230 million) compared with the same month in 2008, and by 9% in the year ending in March.

Hitachi Capital's record year for volume of business was just under half a billion pounds for 2008/09 compared to the previous year with an increase in 40% growth. 

With three quarters of Hitachi Capital's agreements interest free, point of sale finance is a great opportunity for consumers to gain credit quickly and simply without trying to secure a loan or release the equity in their house.

Gerald Grimes, Divisional Managing Director for Hitachi Capital Consumer Finance said: "The figures from the FLA support the fantastic results we have achieved. In our 27 years of experience, we are finding consumers are being more cautious before purchasing larger items. With point of sale credit shoppers get the opportunity to spread the cost making it much easier to manage."

Hitachi Capital now has links with over 1,200 retailers across the UK and places great emphasis on the proactive and profitable support it provides to aid clients in retailing their goods and services.

For more information contact: Daniel Hobson Hitachi Capital (UK) PLC t: 0113 380 1030 m: 07917 264079 e: daniel.hobson@hitachicapital.co.uk