Trading Statement

RNS Number : 4797Z
Orchard Funding Group PLC
15 March 2017
 

Orchard Funding Group PLC

("Orchard Funding Group" or the "Company")

Trading Update

 

Orchard Funding Group, the finance company which specialises in insurance premium finance and the professions funding market, provides the following trading update for the six months ended 31 January 2017.

Trading performance for the period was in line with the Board's expectations with pleasing growth in all segments of the business.

The Company's lending performance (our KPI's) for the period was as follows:

 

 

31 January 2017

 

31 January 2016

 

% growth

 

 

£m

 

£m

 

 

Lending

 

 

 

 

 

 

Broker finance companies

 

20.60

 

16.46

 

25.15%

Direct insurance

 

3.69

 

0.84

 

339.29%

Professional funding

 

6.82

 

6.33

 

7.74%

Total lending

 

31.11

 

23.63

 

31.65%

 

 

Loan book

 

 

 

 

 

 

Broker finance companies

 

16.05

 

13.46

 

19.24%

Direct insurance

 

3.17

 

0.76

 

317.11%

Professional funding

 

6.77

 

5.92

 

14.36%

Total loan book

 

25.99

 

20.14

 

29.05%

 

 

 

Orchard Funding Group will be announcing its interim results for the six month period ended 31 January 2017 on 31 March 2017.

 

For further information:

Orchard Funding Group PLC                                                                        +44 (0)1582 346 248

Ravi Takhar, Chief Executive Officer

 

finnCap Limited (Nomad and Broker)                                                     +44 (0)20 7220 0579

Jonny Franklin-Adams (Corporate Finance)

Emily Watts (Corporate Finance)

Tim Redfern (Corporate Broking)

 

For Investor Relations please go to: www.orchardfundinggroupplc.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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