The S&U (LON:SUS) story is one of strong and steady growth.
The share chart for the niche money lender perhaps tells the tale best - a gradual yet impressive increase of over 531% since the beginning of 2009 to where they are now - at 1,579p.
Tuesday's trading statement was a confirmation and continuation of the positive story. The group reported encouraging current trading and growth in both divisions it operates - home credit and motor finance.
Notably, the motor finance arm - Advantage Finance - has seen record customer numbers from August 1 to December 10. And, as a sign of the group's confidence in its expansion, it has arranged a further £15mln of new bank facilities.
It is the motor division, which has emerged as the driver of growth this year.
The group ploughed £7mln into the business during the six months to the end of July and pre-tax profit came in at £5.6mln compared to £3.8mln in 2012.
Revenues were up 25% compared to the previous year and the arm saw a record number of customers at 23,000.
The strong half-year numbers also meant the board upped the interim dividend to 14p from 12p in 2012.
At Loansathome4U progress was "solid" if not spectacular, while the motor loan business Advantage Finance (AF) now has 4-5% market share.
Research firm Edison also points out the latter has been profitably providing non-standard car finance since 1999.
"Its appetite to lend has been increasing and the business saw 34% book growth in July 2013 on July 2012 (with gross new advances up 50%)," says analyst Mark Thomas, who adds that credit quality is good and improving.
On the home credit front, it said: "S&U has consistently generated annual pre-tax profits of £5-7m from its home collect business, helping fund the higher-growth auto finance business. After some years of slight volume decline, we now expect modest growth," the analyst adds.
Overall Edison expects strong growth in the motor market to continue, while the home credit shows moderate growth but steadily rising profit.
It says the group is modestly undervalued compared to peers earning measures but "massively" undervalued on a price- to-book comparison.
Yesterday, Canaccord said it expects S&U to post "impressive" full year results in March, adding the new bank facilities mean it estimates 2015 full year EPS will be 29% higher than its previous estimate.
"We are, as always, impressed by the measured tone of S&U’s trading update: sensible profitable growth," the broker concluded.