GetBack H1 profit soars

WSE-listed debt collector GetBack recorded PLN 111.62 million net profit in H1, up by 50.5 percent y/y. EBIT stood at PLN 156 million, a 74.6 percent y/y growth. Revenues amounted to PLN 337.59 million, up by an impressive 111 percent y/y. “We consider that the first half of 2017 was another good time for the group's development, with significant activity in the tendering process and an innovative business approach, significantly increasing the value and number of claims managed by the group. The increase in the receivables portfolio significantly translated into an increase in the results,” GetBack CEO Konrad Kąkolewski said. Moreover, GetBack wants to generate half of its revenues from foreign markets within the next 5 years and enter 2-3 new foreign markets within a year. The figure currently stands below 10 percent.