Progressive publishes new research

RNS Number : 6962S
Distribution Finance Cap. Hldgs PLC
18 March 2021
 

Positioned for efficient growth

DF Capital (DFC) is a specialist SME (Small and Medium sized Enterprise) lender and personal savings bank operating in the UK. It secured permission to commence deposit taking at the end of September 2020 which has allowed it to successfully replace more costly wholesale funding with retail deposits. Having navigated the impact of COVID-19 with aplomb so far, the Group's recent capital raise doubled its lending capacity and we expect it to grow its loan book at pace. With an efficient business model, DFC is initially concentrating on its inventory finance product to secure run-rate profitability during Q4 2021, but holds the promise of supporting a poorly served market with the addition of new, longer term loan products in adjacent segments. Our scenario analysis suggests that one additional product could add at least 12% to our FY 2023E earnings estimate.

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About Progressive:

 

Progressive helps you make informed investment decisions. FCA authorised and regulated, and with a 15-strong team of highly experienced analysts, we provide freely available institutional grade equity research and access to company management teams across every sector of the market.

 

www.progressive-research.com

 

Broad coverage

 

Analyst calibre

 

across 12 sectors

 

 

 



 

 

 

Business Services

Oil & Gas

15
analysts

with average

20
years

Financials

Property

experience of

Healthcare

Retail


Industrials

Technology

30+


techMARK

Investment Trusts

Telecoms

industry based

Extel

Mining

Utilities

awards

StarMine

 

 

For further information please contact:

 

Emily Ritchie

+44 (0) 20 7781 5311

eritchie@progressive-research.com

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