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Loans division performing well

The loans division of Accuma, the aim listed IVA specialist has performed well in recent months according to Accuma's chairman.

Accuma has had a difficult year following difficulties in the IVA / debt management market and despite doubling turnover, profits were down by 50%, but things would have been worse without the strong performance from Loan Line, it's loans division.

Accuma, which acquired the Basingstoke-based secured loans provider last year, has relied on the loan brokerage's 10 years of experience to pull in much needed profits despite a difficult period for the loans marketplace. Loan Line, which specialises in cheap loans for homeowners, is not expected to suffer too badly in the worsening market for many brokers, as only a small percentage of it's business falls into the sub-prime category..

Accuma's share price which has suffered significant falls over the past year, jumped almost 50% on the news, but the profit figures are much lower than were predicted when Accuma placed more stock in January 2006. At that time £5.5m was suggested for 2007 profits.

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