Operational review
Established markets
Customer numbers 856,000
–1.7%
Average net receivables
£255.5 million
+13.5%
Impairment as a % of revenue
20.1%
Poland
| 2008 £m |
2007 £m |
Change £m |
Change % |
Change at CER % |
|
|---|---|---|---|---|---|
| Customer numbers (000s) | 856 | 871 | (15) | (1.7) | (1.7) |
| Credit issued | 344.9 | 270.9 | 74.0 | 27.3 | 2.0 |
| Average net receivables | 255.5 | 181.0 | 74.5 | 41.2 | 13.5 |
| Revenue | 249.6 | 183.1 | 66.5 | 36.3 | 9.2 |
| Impairment | (48.2) | (26.4) | (21.8) | (82.6) | (45.8) |
| Revenue less impairment | 201.4 | 156.7 | 44.7 | 28.5 | 3.1 |
Following the credit tightening customer numbers reduced by 1.7% to 856,000. Credit issued increased by 2.0% to £344.9 million. Average net receivables and revenue increased by 13.5% and 9.2% respectively.
Credit quality remained good with underlying impairment as a percentage of revenue at 20.1% (2007: 17.7%). The impairment charge of £48.2 million is net of a release of impairment provisions of £2.0 million (2007: £6.0 million).
Revenue less impairment has increased by 3.1% to £201.4 million.