Intrum Justitia Reports Jump in Earnings and Revenue for First Half

Intrum Justitia, the largest ARM company in Europe, late last week reported financial results for the first half of 2007, marked by an 11.3 percent increase in revenues and a 26.3 percent rise in net earnings.

The Stockholm, Sweden-based firm said that revenues for the first half were $117 million, 11 percent higher than reported in the first half of 2006. Net earnings were reported at $13.9 million, a 26 percent increase over the first half of 2006.

Intrum said it spent $18.6 million on portfolio purchases in the first half as the company ramps up its debt purchasing efforts.

“The Purchased Debt service line continues to deliver strong, stable earnings, which we see as a sign of the quality of our operational management and ability to spread risk across 23 countries,” said CEO Michael Wolf in a statement.

Intrum Justitia employs around 2,900 people in 24 separate markets.