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Why Scottish Pacific Group Ltd (ASX:SCO) is up on its FY18 results

Shares in financial services provider Scottish Pacific Group Ltd (ASX: SCO) are up 2.2% to $3.42 at the time of writing after the release of strong FY18 results.

Scottish Pacific has reported NPAT of $29.7 million, up 17.4% on FY17 with net revenue coming in at $108.6 million – up 8% and a total dividend of 19c per share declared.

According to its results, Scottish Pacific’s focus on business management over FY18 has seen it cut costs to income to 50.2% as it reported its strongest growth in its mid-size client segment.

Looking forward, Scottish Pacific has flagged risks sitting with the underlying debtor, not the SME borrower, with the market for non-bank lenders for SMEs expanding.

Elsewhere in the consumer finance sector, shares in Eclipx Group Ltd (ASX: ECX) are also on the up, rising 1.9% to $2.62 at the time of writing.

Another one to watch is Zip Co Ltd (ASX: Z1P), with good share price gains since the release of its FY18 results on August 7.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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