New clients prove a boon for Provident

PROVIDENT Financial's profit before tax rose 5.9% to £169.6m as the doorstep credit and insurance provider put on more customers without a knock-on in bad debt.

Turnover rose 14% to £833m and customer numbers by 9% to 3.5m, with a 42% jump overseas, although the group lost £5m after pulling out of South Africa along with other costs. Earnings per share rise 6% to 50.39p, and at 29.35p, full-year dividend is 7.5% to the good.

The shares fell back 2 1/2p to 663p, but chairman John van Kuffeler says he sees 'excellent' growth continuing in 2002.