A company created to help the government chase unpaid fines, loans and council tax saw its profits rocket by 132% last year.
Integrated Debt Services (IDS), which trades as Indesser and whose parent company is the credit information firm Equifax, saw its pre-tax profits rise to 18.1m in 2022, sharply up on 2021s figure of 7.8m. Revenues nearly doubled to 60m.
The pandemic had caused IDS, which acts as a middleman between the government and debt collection agencies, to pause some of its operations, the accounts said, but there was an acceleration of activity in 2022.
The company paid a dividend of 12m to the Nottingham-based debt collection firm TDX Group, which is ultimately owned by Equifax, whose headquarters are in the US.
IDS was created…
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