Aktiv Kapital has reported an operating profit of of NOK 94.6m (£10.7m) in the third quarter of 2011, down from NOK 101m (£11.4m) in the same period last year.
It claims the decrease is primarily related to few acquisitions of portfolios.
But the debt purchaser says it has had a strong operational performance and is well positioned for growth, with the UK listed as a core market.
Aktiv Kapital says the UK market is “highly competitive and fragmented” and claims it is “looking at partnerships and acquisitions to gain scale.”
In the short-term management focus will be on growth from the core markets Nordics, Germany, UK and Spain.
Aktiv Kapital says the pressure on European banks is driving more debt to the market and a higher number of larger and more complex deals is expected.
In Q3 2011 Central Europe, the Nordics and Canada performed ahead of plan and operating expenses were lower by 6.1% from third quarter 2010.
Geir Langfeldt Olsen, chief executive officer, says: “The results for the third quarter demonstrate how Aktiv Kapital is operating efficiently and adjusts costs to revenue. The group will continue to streamline the organisation and drive operational improvements in order to maximise profitability.
“The current macroeconomic climate is driving more debt to the market. We are well positioned with an effective platform and solid balance sheet, and we are strengthening the portfolio investment team to capitalise on the opportunities ahead of us.”
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