Skipton Business Finance reports 13% rise in 2024 pre-tax profit
A part of the Skipton Group, the company also reported a 19% rise in collective turnover among the businesses it serves, from £2.1bn to £2.5bn.
SBF partners with businesses across key industries to provide funding solutions aimed at supporting long-term growth.
The company's funds in use (FIU) grew by 11% to £190.1m, with peak FIU increasing by 12% from £184.5m in 2023 to £207.3m in 2024.
Skipton Business Finance CEO Greg Bell said: '2024 was a pivotal year for us, demonstrating our steadfast commitment to supporting businesses across the UK. Achieving a record £2.5bn in turnover across the businesses we serve and a 13% increase in profitability reinforces our position as a key provider of flexible and accessible funding solutions.'
'As we look ahead, our strategic, client-centric focus remains on innovation, strengthening our relationships with intermediaries, and ensuring businesses have the financial resources required to drive sustainable growth.'
The company also increased its charitable donations by 10%, with WizeUp Financial Education being a key beneficiary.
This aligns with SBF's goal to improve financial literacy in the UK.
SBF supports more than 30 initiatives through Community Matters, a grant-making programme developed by the company.
Skipton Group group CEO Stuart Haire said: 'Skipton Business Finance is a core component of the Skipton Group, playing a vital role in our commitment to supporting financial wellbeing and driving business growth across the UK.
'Its exceptional performance in 2024, including record lending and increased client satisfaction, underscores the team's dedication to empowering UK B2B businesses - an essential pillar of the UK economy.'
SBF recently provided a £350,000 invoice discounting facility to Invision Recruitment, which is based in Bishop's Stortford.
The funding supports Invision's expansion in construction and civil engineering permanent placements.
Invision Recruitment, which currently places 30% of its candidates in permanent roles and 70% in temporary positions, aims to achieve a 50/50 split by 2025.
However, longer invoice payment terms from larger clients created cashflow challenges that risked restricting growth.
"Skipton Business Finance reports 13% rise in 2024 pre-tax profit" was originally created and published by Leasing Life, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 days ago
- Yahoo
2 BTO projects with shorter waiting times to go on sale in July; SM Lee does not expect US tariffs to be temporary: Singapore live news
Minister for National Development Chee Hong Tat has revealed that over 10,000 new flats – comprising of BTO and SBF flats – will be offered by HDB in the upcoming July sales exercise. Around 1,400 flats out of the 5,500 BTO flats for sale will be with shorter waiting times of less than three years. These projects are located at Clementi Emerald and Bangkit Breeze in Bukit Panjang. Senior Minister Lee Hsien Loong believes that once trade and economic policies are set, it becomes politically unfeasible to remove them. Therefore, Singapore should not expect current US tariffs to be rolled back even after US President Donald Trump is no longer in office. Read more in our live blog below, including the latest local and international news and updates: Around 1,400 BTO flats with waiting times of less than three years located in Clementi and Bukit Panjang will go on sale in July. Minister for National Development Chee Hong Tat revealed the news in a Facebook post on 16 July as part of an announcement that over 10,000 new flats – comprising of BTO and SBF flats – will be offered in the upcoming sales exercise. "About 5,500 BTO flats will be offered across various locations islandwide. This includes around 1,400 flats with shorter waiting times of less than three years located at Clementi Emerald and Bangkit Breeze in Bukit Panjang," Chee said. Over 4,600 balance flats will also be put up for sale in July by HDB. You can read more on this story in the previous link. Senior Minister Lee Hsien Loong believes the impact of US President Donald Trump's trade policies are long lasting and the world will not simply go back to "status quo" even after his presidency ends. SM Lee, who was speaking at the Economic Society of Singapore's (ESS') annual dinner on 15 July, said that once tariffs are in place it becomes politically unfeasible to remove them as businesses which emerged from the new policy will push back against any rollback. He used the example of former US president Joe Biden who did not overturn earlier tariffs that Trump had imposed on China in his first term. "It will not go back to the status quo in trade policy, in economic policy. Once you make a move, you can't take it back," Lee said. Instead, SM Lee has urged countries that support free trade to work closer together and adapt to evolving trade landscapes. You can read more on SM Lee's comments from the dinner, here. A woman has been arrested in Thailand for allegedly seducing a number of Buddhist monks into sexual relationships – and then blackmailing them to cover up their intimate acts. At least nine abbots and senior monks reported to be involved in the scandal have been disrobed and cast out of the monkhood, the Royal Thai Police Central Investigation Bureau said. Wilawan Emsawat was arrested at her home in Nonthaburi province, north of Bangkok, on charges including extortion, money laundering and receiving stolen goods. According to police, the 30-year-old woman received around 385 million baht (S$15.2 million) in the past three years. However, most of the money has already been spent on online gambling websites, it has been revealed. Nominations for the 2025 Emmy Awards have been announced. Ben Stiller's dystopian office drama 'Severance' led all shows with a total of 27 nominations – including leading acting nods for stars Adam Scott and Britt Lower. Seth Rogen's 'The Studio' secured 23 nominations making it a good day for Apple TV+ which also produces 'Severance'. Oscar-winning director Martin Scorsese received his first acting Emmy nomination for his cameo in 'The Studio', and his daughter could not wait to share the 82-year-old's reaction to the news on social media. But it was HBO Max who led the overall network tally with 142 nominations, thanks to shows 'The Penguin', 'The White Lotus', 'The Last of Us' and 'Hacks'. Netflix still holds the record for most nominations ever with 160 secured back in 2020. However, one of Netflix's most popular shows, 'Squid Game' saw its final seasons snubbed by the Emmys this year. US President Donald Trump has clarified that he does not want Ukraine to target Moscow with strikes. The development comes after the Financial Times reported Trump had privately encouraged Ukrainian President Volodymyr Zelensky to escalate attacks on Russia. FT, citing anonymous sources, said Trump also asked if Ukraine could do so if the US provided the country long-range weapons. However, the White House – in a statement – told the BBC that Trump was "merely asking a question, not encouraging further killing." Trump has given Russia 50 days to make a deal with Ukraine or face 100% tariffs. Prime Minister Lawrence Wong said Las Vegas Sands' new US$8 billion (S$10.3b) project to expand Singapore's iconic Marina Bay Sands resort will "refresh our skyline." PM Wong was speaking at the groundbreaking ceremony on Tuesday (15 July) and added that the plans for Marina Bay were part of Singapore's broader, more ambitious transformation of its entire southern waterfront. The new MBS complex is expected to open in 2031, pending government approval. It is set to include a 55-storey hotel tower with 570 luxury suites and a 15,000-seat arena. "We're writing the next chapter for Marina Bay and making an even more vibrant and inclusive destination for all to enjoy," said Wong in a Facebook post. Las Vegas Sands co-founder Miriam Adelson, the wife of late billionaire Sheldon, was also at the ceremony, and she thanked Singapore for trusting the company. "You took a chance on us... we took a chance on you," she said. More on Las Vegas Sands' billion-dollar bet on Singapore, here. Criminal operations selling drug-laced vapes known as Kpods are becoming an increasing problem across multiple countries in Asia – including Singapore. Authorities have been cracking down hard on vapes and the government is also considering enhancing current enforcement laws, following a spike in seizures of Kpods. The Straits Times recently launched its anti-vaping campaign, which saw readers share personal stories on how Kpods – and also vapes – destroyed their families. A 35-year-old woman revealed how her husband spiralled into repeated episodes of violence and emotional outbursts while using Kpods, causing their children to fear him. "We dated for 10 years and were married for nine. Now, I don't even know who he is any more. Kpods broke our marriage and shattered our children," she said. Another woman said she had seen both her sons experience seizures from Kpods. She went on to describe how her eldest son would 'walk around like a zombie' and she has videos of her younger son struggling to perform simple tasks such as closing the gate to their flat. Earlier this month, a father also shared the heartbreaking story of his daughter's addiction to Kpods which he believes played a part in her tragic death at the age of 19. Around 1,400 BTO flats with waiting times of less than three years located in Clementi and Bukit Panjang will go on sale in July. Minister for National Development Chee Hong Tat revealed the news in a Facebook post on 16 July as part of an announcement that over 10,000 new flats – comprising of BTO and SBF flats – will be offered in the upcoming sales exercise. "About 5,500 BTO flats will be offered across various locations islandwide. This includes around 1,400 flats with shorter waiting times of less than three years located at Clementi Emerald and Bangkit Breeze in Bukit Panjang," Chee said. Over 4,600 balance flats will also be put up for sale in July by HDB. You can read more on this story in the previous link. Senior Minister Lee Hsien Loong believes the impact of US President Donald Trump's trade policies are long lasting and the world will not simply go back to "status quo" even after his presidency ends. SM Lee, who was speaking at the Economic Society of Singapore's (ESS') annual dinner on 15 July, said that once tariffs are in place it becomes politically unfeasible to remove them as businesses which emerged from the new policy will push back against any rollback. He used the example of former US president Joe Biden who did not overturn earlier tariffs that Trump had imposed on China in his first term. "It will not go back to the status quo in trade policy, in economic policy. Once you make a move, you can't take it back," Lee said. Instead, SM Lee has urged countries that support free trade to work closer together and adapt to evolving trade landscapes. You can read more on SM Lee's comments from the dinner, here. A woman has been arrested in Thailand for allegedly seducing a number of Buddhist monks into sexual relationships – and then blackmailing them to cover up their intimate acts. At least nine abbots and senior monks reported to be involved in the scandal have been disrobed and cast out of the monkhood, the Royal Thai Police Central Investigation Bureau said. Wilawan Emsawat was arrested at her home in Nonthaburi province, north of Bangkok, on charges including extortion, money laundering and receiving stolen goods. According to police, the 30-year-old woman received around 385 million baht (S$15.2 million) in the past three years. However, most of the money has already been spent on online gambling websites, it has been revealed. Nominations for the 2025 Emmy Awards have been announced. Ben Stiller's dystopian office drama 'Severance' led all shows with a total of 27 nominations – including leading acting nods for stars Adam Scott and Britt Lower. Seth Rogen's 'The Studio' secured 23 nominations making it a good day for Apple TV+ which also produces 'Severance'. Oscar-winning director Martin Scorsese received his first acting Emmy nomination for his cameo in 'The Studio', and his daughter could not wait to share the 82-year-old's reaction to the news on social media. But it was HBO Max who led the overall network tally with 142 nominations, thanks to shows 'The Penguin', 'The White Lotus', 'The Last of Us' and 'Hacks'. Netflix still holds the record for most nominations ever with 160 secured back in 2020. However, one of Netflix's most popular shows, 'Squid Game' saw its final seasons snubbed by the Emmys this year. US President Donald Trump has clarified that he does not want Ukraine to target Moscow with strikes. The development comes after the Financial Times reported Trump had privately encouraged Ukrainian President Volodymyr Zelensky to escalate attacks on Russia. FT, citing anonymous sources, said Trump also asked if Ukraine could do so if the US provided the country long-range weapons. However, the White House – in a statement – told the BBC that Trump was "merely asking a question, not encouraging further killing." Trump has given Russia 50 days to make a deal with Ukraine or face 100% tariffs. Prime Minister Lawrence Wong said Las Vegas Sands' new US$8 billion (S$10.3b) project to expand Singapore's iconic Marina Bay Sands resort will "refresh our skyline." PM Wong was speaking at the groundbreaking ceremony on Tuesday (15 July) and added that the plans for Marina Bay were part of Singapore's broader, more ambitious transformation of its entire southern waterfront. The new MBS complex is expected to open in 2031, pending government approval. It is set to include a 55-storey hotel tower with 570 luxury suites and a 15,000-seat arena. "We're writing the next chapter for Marina Bay and making an even more vibrant and inclusive destination for all to enjoy," said Wong in a Facebook post. Las Vegas Sands co-founder Miriam Adelson, the wife of late billionaire Sheldon, was also at the ceremony, and she thanked Singapore for trusting the company. "You took a chance on us... we took a chance on you," she said. More on Las Vegas Sands' billion-dollar bet on Singapore, here. Criminal operations selling drug-laced vapes known as Kpods are becoming an increasing problem across multiple countries in Asia – including Singapore. Authorities have been cracking down hard on vapes and the government is also considering enhancing current enforcement laws, following a spike in seizures of Kpods. The Straits Times recently launched its anti-vaping campaign, which saw readers share personal stories on how Kpods – and also vapes – destroyed their families. A 35-year-old woman revealed how her husband spiralled into repeated episodes of violence and emotional outbursts while using Kpods, causing their children to fear him. "We dated for 10 years and were married for nine. Now, I don't even know who he is any more. Kpods broke our marriage and shattered our children," she said. Another woman said she had seen both her sons experience seizures from Kpods. She went on to describe how her eldest son would 'walk around like a zombie' and she has videos of her younger son struggling to perform simple tasks such as closing the gate to their flat. Earlier this month, a father also shared the heartbreaking story of his daughter's addiction to Kpods which he believes played a part in her tragic death at the age of 19.
Yahoo
10-07-2025
- Yahoo
Skipton Business Finance provides funding to SG Brands
Skipton Business Finance has provided six-figure invoice finance to SG Brands, a Sheffield-based distributor of luxury and niche fragrances. The funding will enable SG Brands to purchase stock from brand holders, enhance supplier partnerships, and widen its distribution network. Specifics of the finance facility were not disclosed. Founded by Samuel Gearing in 2019, SG Brands supplies fine fragrance labels to retailers such as Liberty and Fortnum & Mason. The invoice factoring facility will also enable the company to invest in new opportunities with brands such as Portuguese beauty brand Benamôr and French fragrance house Bienaimé, addressing rising customer demand. The deal between Skipton Business Finance and SG Brands was facilitated by Mark Millhouse from Oldham-based PMD Business Finance. SG Brands director Samuel Gearing said: 'Securing the funding from Skipton Business Finance is a pivotal moment for SG Brands. It gives us the capacity to scale our stockholding and develop relationships with our brand partners. 'We chose to work with Skipton not just because of their flexible funding model, but because they took the time to understand our business and what makes it special. Their support means we can now pursue our growth plans with greater certainty and ambition.' Skipton Business Finance North-West and Midlands regional sales director Jim Furey said: 'We are delighted to support SG Brands at the start of this exciting growth chapter. Samuel and his team have built a distinctive and highly respected business in the fine fragrance sector, and our funding will enable them to respond to increasing demand while safeguarding the operational ability of the company.' 'At Skipton, we work with an incredibly diverse client base, from traditional industries to innovative niche sectors, and SG Brands is a great example of that range. We are proud to be backing them through this period of growth and looking forward to being on that journey with them.' Skipton Business Finance specialises in providing invoice factoring and discounting solutions tailored for SMEs across various sectors. In March, the company provided a £350,000 invoice discounting facility to Invision Recruitment in Bishop's Stortford. The funds enabled Invision to expand its permanent placement services in the construction and civil engineering sectors. Last year, Skipton Business Finance reported a 13% increase in pre-tax profit, reaching £10.8m ($14.6m). The company also noted a 19% rise in collective turnover among its clients, from £2.1bn to £2.5bn. "Skipton Business Finance provides funding to SG Brands" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
10-07-2025
- Yahoo
Skipton Business Finance provides funding to SG Brands
Skipton Business Finance has provided six-figure invoice finance to SG Brands, a Sheffield-based distributor of luxury and niche fragrances. The funding will enable SG Brands to purchase stock from brand holders, enhance supplier partnerships, and widen its distribution network. Specifics of the finance facility were not disclosed. Founded by Samuel Gearing in 2019, SG Brands supplies fine fragrance labels to retailers such as Liberty and Fortnum & Mason. The invoice factoring facility will also enable the company to invest in new opportunities with brands such as Portuguese beauty brand Benamôr and French fragrance house Bienaimé, addressing rising customer demand. The deal between Skipton Business Finance and SG Brands was facilitated by Mark Millhouse from Oldham-based PMD Business Finance. SG Brands director Samuel Gearing said: 'Securing the funding from Skipton Business Finance is a pivotal moment for SG Brands. It gives us the capacity to scale our stockholding and develop relationships with our brand partners. 'We chose to work with Skipton not just because of their flexible funding model, but because they took the time to understand our business and what makes it special. Their support means we can now pursue our growth plans with greater certainty and ambition.' Skipton Business Finance North-West and Midlands regional sales director Jim Furey said: 'We are delighted to support SG Brands at the start of this exciting growth chapter. Samuel and his team have built a distinctive and highly respected business in the fine fragrance sector, and our funding will enable them to respond to increasing demand while safeguarding the operational ability of the company.' 'At Skipton, we work with an incredibly diverse client base, from traditional industries to innovative niche sectors, and SG Brands is a great example of that range. We are proud to be backing them through this period of growth and looking forward to being on that journey with them.' Skipton Business Finance specialises in providing invoice factoring and discounting solutions tailored for SMEs across various sectors. In March, the company provided a £350,000 invoice discounting facility to Invision Recruitment in Bishop's Stortford. The funds enabled Invision to expand its permanent placement services in the construction and civil engineering sectors. Last year, Skipton Business Finance reported a 13% increase in pre-tax profit, reaching £10.8m ($14.6m). The company also noted a 19% rise in collective turnover among its clients, from £2.1bn to £2.5bn. "Skipton Business Finance provides funding to SG Brands" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
