The worsening macroeconomic environment is good news for consumer debt group Invocas, its chairman told yesterday�s annual meeting.

The worsening macroeconomic environment is good news for consumer debt group Invocas, its chairman told yesterday's annual meeting.

Howard Bell said marketing subsidiary Newtomorrow was now generating around 80% of revenue opportunities, and that the average number of trust deed opportunities in the second quarter "has almost recovered to levels of a year ago and that the trend continues to improve".

The group's new team of field advisers covering England and Wales threw up 80 opportunities for Individual Voluntary Arrangements (IVAs) in June, against nil a year earlier. In the second quarter the group signed 100 new debt management plan cases, also against nil in 2007.

Bell said: "We expect to see continuing improvements in the numbers of trust deed and IVA opportunities ... "However, it is taking a little longer than anticipated for the numbers of opportunities to impact on turnover and profitability."

Nine mortgage broker networks had signed up with Newtomorrow Broker Services, an area which the firm expected to be "a significant source of revenue opportunities"..