Debt management company debts.co.uk has reported a huge rise in annual profits, up 62% to £2.1m off revenues of £6.1m.

The company says that it is currently handling around 140 IVAs (Individual Voluntary Arrangements) each month, and it expects the figure to rise to around 500 a month following an extensive advertising campaign.

Around a half of their customers take out IVAs, although the company also offers debt consolidation, debt management and bankruptcy advice services.