Profit before tax rose 11.7 per cent to 181.1m pounds in the full year ending December 31st at Provident Financial.

The company, which provides home credit in the UK and Ireland, also posted strong group performance and dividend increase.

Adjusted earnings per share were up 13.8% to 102.0p.

Customer numbers were up 8.7% to 2.74m, compared to 2.52m in 2011, and average receivables rose 12.1% to £1.3bn.

The total dividend per share was up 11.9% to 77.2p and the group reported that it is fully funded into 2015.

Peter Crook, Chief Executive Officer of Provident Financial, said: "I am very pleased to announce adjusted earnings per share growth of 13.8% in 2012 and an 11.9% increase in the dividend for the year which is fully supported by strong capital generation. We have now delivered cumulative earnings per share growth of 42.9% over the last three years.

"Our performance is underpinned by the strength of our funding position and lending responsibly through very close attention to credit quality. This has allowed us to generate a stable stream of profits from CCD during a period when customers' household incomes have been under pressure.

"At the same time, we have continued to invest significantly in growing the customer base and profits from addressing the UK's under-served non-standard credit card market through Vanquis Bank."

MF

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