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Debt Free Direct Expanding Operation To Meet Demand

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I've just spotted this regulatory news courtesy of FT.com (Link) and though this might be of interest. Apologies if already posted.

Kind regards,


Debt Free Direct Grp - Increased Capacity

RNS Number:3188B

Debt Free Direct Group PLC

11 April 2006

11 April 2006



The IVA market continued its strong growth in March, with volumes up 29% on the previous month and 155% on March 2005. Debt Free Direct maintained its market share at just under 20%. Volumes are continuing to grow rapidly and work in progress is at record levels. With this in mind, the company is taking on new leasehold premises that will more than double its capacity to process IVAs. These new facilities will become fully operational in October 2006. Meanwhile, the company has brought on stream facilities in Northern Ireland capable of completing 150 IVAs per month with immediate effect. This capacity is expected to double over the next 12 months. Andrew Redmond, CEO, commented 'We are very pleased with our continuing progress. Expanding capacity to handle the ever increasing volumes of business generated by our advertising has always been a challenge. The steps announced today will ensure that we can continue our rapid growth trend.'

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Debt Matters share price just rocketed 8.6% today. The debt companies seem to be doing VERY well

in the last couple of years.

EDIT: 8.9% now

Edited by OzzMosiz

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Blimey, it looks like I backed an also ran! :lol:

Speaking of Debtmatters, I see their advertisments are now running on cable telly (VH1 Classic, to be precise - though there are likely to be others). It's quite unusual to see it jammed between Ocean Finance and Vorderloan ads. It'll be interesting to see if this increases their market share...

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Volumes up 155% on March 2005, WOW! If that reads across to the official figures Repos and the like the it is going to be a bad year this year. Or a very good year if you are a debt collector.

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Surprised this hasn't been debated more as when people can't spend anymore the consumer based economy falters. Unemployment ensues and house prices come down.

A rep from Debt Free Direct was on radio 5 today saying how the number of people seeking IVA's has accelerated since Jan (I think he said up 60% in three months) and its going to get a lot worse.

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