Fairpoint Group, the debt solutions business, acquires a 100% share in price comparison company Moneyextra.com.
Fairpoint says the purchase marks its move into a broader based financial solutions business for financially stressed consumers. It says it expects the acquisition of financial product comparison website Moneyextra.com to increase non-Individual Voluntary Arrangements (IVA) revenues to around a third of Group revenues from the final quarter of the year. Fairpoint's share price was up 1.25p, or 1.64%, to 76.25p per share on the news at around 10am. In March in its preliminary results, Fairpoint outlined a strategy to generate 20% of revenues and gross profits in the 2010 financial...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes