Coface revenue for the first half-year period has reached €725mn, an increase of 8.3% at current consolidation scope. Net income increased significantly by 26.2%, reaching €86.1mn.
All business lines are reporting growth, with the insurance line reporting growth of 5.5% at €574mn, and revenue in the credit management services line has risen to €90mn, an increase of 21.1%.
Factoring has also shown relatively strong growth, with the business line hitting 32.9% at €33mn. Revenue generated by the public procedures managed by Coface on behalf of the French State has reached €29mn, an increase of 6.8%.
All regions have seen growth in the first half of the year, except the English market which is still feeling the after-effects of a poor year in 2006. Traditional markets in France, Germany and Austria have reported an increase of 8.9%, while growth rate in Spain hit 32.5% and North America reported a 26.7% increase in the rate of growth.
Overall operating income reached €128mn, an increase of 16.5% compared to the end of June 2006. Operating income in the insurance business line stablised at €65mn, while in the credit management services line grew by 30.8% at the end of June 2007. The factoring business line increased its operating income by 20% to €12mn at the end of June 2007.