A North West credit hire and legal services firm has announced it achieved growth last year despite the devastating Covid-19 pandemic.
In an announcement to the markets on Monday, Liverpool-based Anexo said growth in the year to December 31 2020 had "exceeded" the board's expectations.
It added that with further recruitment during the year within its legal division Bond Turner, salary and other associated costs also increased.
For Bond Turner, monthly cash collections rose 'significantly' in the last quarter - reaching a record high in December.
The statement from AIM-listed Anexo said: "Nevertheless, the board is pleased to announce that adjusted* profit before tax will be in line with current market expectations."
The announcement also revealed Saki Riffner, partner and co-founder of DBAY Advisors Ltd, has been appointed as a non-executive director.
That's as well as further investment from private equity firm DBAY.
DBAY currently holds 9.9% of Anexo's issued share capital, but an application has now been made to acquire an extra 19.1%.
The group, which said it was able to remain operational throughout both national lockdowns in 2020, said it will announce its final results for the year on April 27.
The number of vehicles on the road in the group’s credit hire division, EDGE, recovered strongly following the lifting of the first lockdown in July and reached record numbers in the second half of 2020.
Following the implementation of the second lockdown in early November, the number of vehicles on the road once again saw an initial decline, although the monthly totals remain well ahead of those seen in the first half of the year.
The board said the average number of vehicles on the road for 2020 will exceed 2019's figure.
