May 22 (Reuters) - British debt collection company Arrow Global Group Plc reported a 17.6 percent rise in first-quarter adjusted core profit as it was able to collect more debt and costs fell.
The company, which listed on the London Stock Exchange in October, said core collections rose 16 percent to 31.8 million pounds ($53.67 million) in the three months ended March 31.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 22.3 million pounds from 19.0 million pounds a year earlier.
Arrow Global manages over 8 billion pounds of debt from businesses including retail banks and credit card and telecommunications companies. ($1 = 0.5925 British pounds) (Reporting by Roshni Menon; Editing by Ted Kerr)