Operational review
Established markets
Customer numbers 397,000
–1.2%
Average net receivables
£118.7 million
+6.0%
Impairment as a % of revenue
24.5%
Czech Republic and Slovakia
| 2008 £m |
2007 £m |
Change £m |
Change % |
Change at CER % |
|
|---|---|---|---|---|---|
| Customer numbers (000s) | 397 | 402 | (5) | (1.2) | (1.2) |
| Credit issued | 195.1 | 152.9 | 42.2 | 27.6 | (0.2) |
| Average net receivables | 118.7 | 87.6 | 31.1 | 35.5 | 6.0 |
| Revenue | 130.5 | 96.9 | 33.6 | 34.7 | 5.0 |
| Impairment | (32.0) | (20.5) | (11.5) | (56.1) | (20.1) |
| Revenue less impairment | 98.5 | 76.4 | 22.1 | 28.9 | 0.8 |
Growth in these markets was also impacted by the credit tightening. Customer numbers reduced by 1.2% and credit issued by 0.2%. Average net receivables increased by 6.0% leading to an increase in revenue of 5.0% to £130.5 million.
Impairment as a percentage of revenue increased to 24.5% from 21.2%, partly as a result of the strong growth in credit issued in the first three quarters of 2008, and partly due to lower revenue as a result of the credit tightening.
Revenue less impairment increased by 0.8% to £98.5 million.