Falcon Group turnover breaks $2bn barrier
Leading alternative financier Falcon Group has recorded a turnover of US$2.3 billion – surpassing its target turnover of US$2 billion for the 2013-14 financial year. Profits have also increased to US$52 million, up from US$44 million in FY 2012-13.
Falcon is therefore on-track to achieve its target US$5 billion gross turnover within the next few years.
“Falcon’s growth has entered into a new stage,” says Will Nagle, CEO of Falcon Group. “Companies of all sizes are now aware of the benefits of alternative financiers, and of the success of Falcon’s bespoke solutions. And they are increasingly convinced. Indeed, our strategy is now focused less on convincing companies of the merits of alternative financiers, and more on setting us apart from other alternative financiers – cementing our place at the forefront of the industry’s progression. We are also focused on regulation, ratings and expansion. We have grown, and now we are evolving.”
In addition to its record results, Falcon Group also celebrated becoming one of the first alternative financiers to receive a public rating from the major ratings agencies – with Moody’s awarding Falcon Ba3.
“Clearly, this achievement is not just significant for Falcon Group but also for the alternative financing industry as a whole,” explains Falcon chairman Kamel Alzarka. “Ratings agencies are now recognising the important role such alternative financiers play within the financial landscape.”