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Share Price Information for Funding Circle (FCH)

London Stock Exchange
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Share Price: 82.40
Bid: 82.40
Ask: 82.80
Change: 0.00 (0.00%)
Spread: 0.40 (0.485%)
Open: 83.40
High: 84.20
Low: 81.20
Prev. Close: 82.40
FCH Live PriceLast checked at -

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Funding Circle loans reach record levels, though returns wane

Thu, 18th Apr 2019 08:31

(Sharecast News) - Funding Circle's shares climbed on Thursday after it reported a record level of loans under management during the first quarter, though some analysts remain concerned about the company's business model.The peer-to-peer lending marketplace said that its loans under management ended March at £3.4bn, an increase of 44% compared to the same quarter last year, as new business gained 23% to £644m.Consequently, revenue increased by approximately 40% as policy changes in the US helped to drive a higher transaction yield, leaving the group trading in line for the full year.While the update appears upbeat, analysts at Olivetree raised concerns that the company's bad debts are on the rise while investor returns are dropping, with loans originated in 2017 initially expected to return 5.5% to 6.5% but now looking at returned between 4.1% and 5.1%.Meanwhile, while originations increased by 23% during the period to £644m the rate of increase has still slowed from 45% in the third quarter of 2018, bad news for a company for whom 80% of revenue stems from upfront fees."This is still a very unproven business model, which is showing signs of strain even before we hit a credit cycle...consensus doesn't expect this company to turn a profit till 2021 and even that may be optimistic based on today's information. We think the stock should trade down today," Olivetree said.Even so, Funding Circle chief executive Samir Desai said the first quarter was a period where the company "reinforced its leadership position across each of its markets" to reach a record level of loans under management and continue to diversify funding sources.This diversification saw a new commitment from the European Investment Bank to use the platform to lend €100m over the next two years to small businesses in Germany and the Netherlands, as well as launching two new institutional investor products. Funding Circle's shares were up 3.30% at 320.75p at 0836 BST.
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2 Jul 2019 08:44

LONDON MARKET OPEN: Plus500 And Funding Circle Bookend FTSE 250

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2 Jul 2019 08:03

TOP NEWS: Funding Circle Cuts Growth Guidance On UK Economic Woe

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22 May 2019 15:06

Funding Circle Sets Hard Limit To Incentive Pay For Senior Executives

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25 Apr 2019 14:14

FTSE 250 movers: Funding Circle spiralling lower, TBC Bank climbs

(Sharecast News) - London's FTSE 250 index was down 0.44% at 19,906.64 in afternoon trade on Thursday, with Funding Circle leading the index lower.

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24 Apr 2019 14:31

FTSE 250 movers: Centamin shines, Funding Circle falls

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21 Apr 2019 19:27

Sunday share tips: Funding Circle, SSP, Ceres Power

(Sharecast News) - This Sunday's share tips were Funding Circle in the Sunday Times, SSP in the Sunday Telegraph and Ceres Power in the Mail on Sunday.

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18 Apr 2019 08:47

LONDON MARKET OPEN: Unilever, Moneysupermarket.com Rise In Quiet Day

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LONDON MARKET PRE-OPEN: Unilever, Rentokil Begin 2019 Well

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LONDON MARKET CLOSE: Stocks End Week In Green On Boost From Miners

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WINNERS & LOSERS SUMMARY: ContourGlobal Rises On Bigger Dividend

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