Kruk Q4 profit plummets – preliminary figures

According to preliminary estimates, WSE-listed debt collector Kruk had PLN 300 million net profit in 2017 a 20.6 percent y/y growth. The Q4 figure stood at PLN 9 million, compared to PLN 62.9 million Q4 profit in 2016. The company spent PLN 976 million on debt portfolios of PLN 16.4 billion nominal value. In Q4 alone, is bought debt with PLN 6.4 billion for PLN 210 million, the company said. Most of the debt, 40 percent was acquired in new Western Europe markets such as Italy and Spain, 30 percent in Poland, and 25 percent in Romania. When it comes to collections, Kruk brought in PLN 1.37 billion last year, a 38 percent y/y growth, and PLN 375 million in Q4, up by 29 percent y/y. The company will release its final 2017 figures on March 4