Relax given a boost as consumers struggle to manage personal debt

CONSUMER debt management firm Relax Group yesterday said the economic outlook continues to favour the firm’s activities as it updated the market on an “extremely satisfying” set of results.

Relax, which acquired PB Recovery in February and Relax Finance in May last year, said pre-tax profit rose to £668,000 for the five months to December, after it changed its accounting period from a July year-end to a December year-end. Reported revenue rose 20.9 per cent to £6.5m on a pro rata basis.

Chairman Bernard Asher said the economic turmoil had thrown up opportunities as the number of people seeking advice about debt and financial problems continues to rise.