Key points from the data:
• Total adult membership grew for the 6th consecutive quarter. In 2024 Q1 there were 2,111,957 adult members, a 5.15% increase compared to the same quarter last year.
• Total income fell by 5.50% in 2024 Q1 to £95.42 million after reaching record levels in 2023 Q4. Interim profit increased by 22.62% to £15.61 million over the same period as total expenditure fell by 9.56% to £79.81 million.
• Loans to members increased by 2.88% quarter-on-quarter to £2.54 billion, the highest level on record.
• The total value of net liabilities in arrears rose by 11.01% quarter-on-quarter to £183.90 million, led by an increase of 22.35% in Scotland. The total number of net liabilities in arrears increased by 1.67% to 79,224 over the same period.
