Encore capital, another major debt buyer has reported good first quarter numbers.
- The company’s total revenue increased 26% to $110.3 million on gross collections of $191.1 million, a 35% jump from Q1 2010.
- They invested $90.7 million to purchase debt portfolios with a $2.9 billion face value, up 11% from last year.
- Revenue from receivable portfolios, net was $105.3 million, a 27% increase over the $82.9 million in the year-ago period.
- They are hiring: The headcount at the end of the first quarter totaled 2,049, up 25% from the end of Q1 2010.
With two majors now reporting good numbers it’s a good bet that we are in the right place at the right time