Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFunding Circle Share News (FCH)

Share Price Information for Funding Circle (FCH)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
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 -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Funding Circle swings to pretax profit in 2021 while income drops

Thu, 10th Mar 2022 11:17

(Alliance News) - Funding Circle Holdings PLC said on Thursday it delivered "excellent progress" in 2021, swinging to a pretax profit and increasing its loans under management.

The London-based commercial lender swung to a pretax profit of GBP64.1 million in 2021 from a loss of GBP108.1 million the previous year.

Loans under management rose 5.8% to GBP4.46 billion from GBP4.21 billion year-on-year. Funding Circle said this was driven by strong origination performance in the UK during the year, especially in the first half.

Total income fell 6.8% to GBP206.9 million from GBP222.0 million while fee income - the company's operating income - rose 6.3% to GBP165.5 million from GBP155.7 million.

This was driven by strong originations, record loans under management, cost actions and the quality of underwriting coming through, the company explained.

Looking forward, the company said it expects operating income between GBP145 million to GBP155 million as demand begins to normalise. It expects investment income to continue to decline. In 2021, investment income fell 38% to GBP41.4 million from GBP66.3 million.

As a result, Funding Circle expects total income to be between GBP155 million to GBP170 million in 2022.

Chief Executive Lisa Jacobs said: "Our focus for the last two years has been on profitable growth and today's results highlight the excellent progress we have made. I am particularly proud to announce AEBITDA of GBP92 million and GBP64 million of operating profit, exceeding our previous guidance.

"We are in a strong position as a business and as we look ahead to the rest of 2022 and beyond, there is a bright future ahead of us. A decade of R&D is now coming to fruition as we begin to empower small businesses to not only borrow, but pay and spend as well."

Shares in Funding Circle were up 2.8% at 74.71 pence on Thursday morning in London.

By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
15 Jan 2020 09:32

UK BROKER RATINGS SUMMARY: Goldman Raises Capita To Conviction Buy

UK BROKER RATINGS SUMMARY: Goldman Raises Capita To Conviction Buy

Read more
21 Oct 2019 16:56

LONDON MARKET CLOSE: Brexit And US-China Optimism Lifts Stocks

LONDON MARKET CLOSE: Brexit And US-China Optimism Lifts Stocks

Read more
21 Oct 2019 11:43

Funding Circle shares surge after positive third quarter update

(Sharecast News) - Peer-to-peer business lender Funding Circle Holdings updated the market on the three months ended 30 September on Monday, reporting a 31% rise in loans under management year-on-year to £3.7bn.

Read more
21 Oct 2019 10:34

Funding Circle Loans Under Management Rise To GBP3.7 Million

Funding Circle Loans Under Management Rise To GBP3.7 Million

Read more
21 Oct 2019 08:58

LONDON MARKET OPEN: Smith & Nephew Falls As CEO Departs; Sterling Up

LONDON MARKET OPEN: Smith & Nephew Falls As CEO Departs; Sterling Up

Read more
21 Oct 2019 07:42

LONDON MARKET PRE-OPEN: S&N CEO Departs; Candy Eyes Capital & Counties

LONDON MARKET PRE-OPEN: S&N CEO Departs; Candy Eyes Capital & Counties

Read more
4 Sep 2019 17:52

TOP NEWS: Marks & Spencer's 35 Year Spell In FTSE 100 Comes To An End

LONDON (Alliance News) - FTSE Russell confirmed on Wednesday that the following changes will take effect to its UK indices from the market open on Monday, September 23, after completing its 100 of

Read more
9 Aug 2019 14:32

DIRECTOR DEALINGS: Funding Circle Chair Buys GBP51,000 In Shares

(Alliance News) - Funding Circle Holdings PLC said Friday that Chair Andrew Learoyd purchased nearly GBP51,000 in stock in a transaction on Thursday.Learoyd bought 47,103 shares at an price

Read more
8 Aug 2019 16:55

LONDON MARKET CLOSE: Stocks Boosted By US-China Trade Antagonism Lull

LONDON (Alliance News) - Stock prices in London closed higher on Thursday as US-China trade tension worries that erupted earlier in the week continued to soften following another day of no further

Read more
8 Aug 2019 12:08

LONDON MARKET MIDDAY: Stocks Edge Up But FTSE 100 Lags European Peers

(Alliance News) - London share prices continued to post mild gains on Thursday with the risk-on mood making a gradual return. However, London's leading equities index lagged behind its as a a

Read more
8 Aug 2019 10:37

WINNERS & LOSERS SUMMARY: Hargreaves Lansdown Rises As Assets Increase

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Hargreaves up a

Read more
8 Aug 2019 10:14

Funding Circle Interim Loss Widens But Managed Loans Grow

(Alliance News) - Small business lending platform Funding Circle Holdings PLC on Thursday reported a widened interim loss on higher marketing and staff costs and reiterated its concern about high

Read more
2 Jul 2019 16:51

LONDON MARKET CLOSE: FTSE Outpaces Peers As Pounds Slides After UK PMI

(Alliance News) - The FTSE 100 powered ahead of peers in mainland Europe and New York on Tuesday as the pound tumbled following worrying UK construction data and a warning from the Bank of England

Read more
2 Jul 2019 11:52

LONDON MARKET MIDDAY: Pound's PMI Stumble Helps FTSE Build On Gains

(Alliance News) - London's FTSE 100 stock index extended gains on Tuesday after the pound weakened following some disappointing UK construction data, while a steep fall for Funding put

Read more
2 Jul 2019 10:32

WINNERS & LOSERS SUMMARY: Funding Circle Sinks After Cutting Guidance

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------National up 1.5%.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.