Lendinvest Share News (LINV)

IN BRIEF: LendInvest assets and funds under management grow annually

LendInvest PLC - London-based non-bank mortgage lender - Says in the year ended March 31, Platform assets under management grew 7.6% to GBP2.78 billion from GBP2.59 billion a year prior. Funds under management jumped 15% to GBP4.13 billion from GBP3.61 billion a year ago. Looking ahead, LendInvest expects to announce full-year results in line with market expectations with respect to both net operating income and pretax profit. Says it remains "cautiously optimistic" of returning to profitability during financial 2025. Chief Executive Officer Rod Lockhart says: "Throughout the year, despite the broader challenges, we've continued to make progress against our long-term strategic goals. Our adaptability in response to dynamic market conditions and commitment to our customers are underscored by our ongoing product innovation and the evolution of our proprietary next-gen technology."

Lendinvest makes 'good progress' against strategic objectives in H2

(Sharecast News) - Mortgage platform operator Lendinvest said on Thursday that it made "good progress" against its strategic objectives in the second half of the trading year.

LendInvest nets 12.1m pre-tax gain from Mortimer BTL sale

(Sharecast News) - LendInvest has successfully sold its non-risk retention residual economic interest in the Mortimer BTL 2023-1 securitisation, it announced on Friday, via its subsidiary LendInvest BTL.

AIM WINNERS & LOSERS: Revolution Bars plans to close eight bars

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

IN BRIEF: LendInvest firm sells GBP5 million securitisation interest

LendInvest PLC - London-based non-bank mortgage lender - Shares rise as its subsidiary LendInvest BTL Ltd completes the GBP5 million sale of its non-risk retention residual interest in the Mortimer BTL 2023-1 PLC securitisation. Says the transaction will result in a reduction in gross loans and advances of around GBP392 million, alongside a net pretax gain of around GBP12.1 million for its financial year ending March 31. In financial 2023, pretax profit ticked up to GBP14.3 million from GBP14.2 million the year before. In the first half of its financial 2024, LendInvest swung to a pretax loss of GBP15.1 million from a profit of GBP14.8 million a year earlier.

LendInvest shares fall as swings to interim loss amid new lending fall

(Alliance News) - LendInvest PLC on Tuesday announced no interim dividend, a change from a year ago, as it swung to a pretax loss amid a contraction in new lending.

FRP Advisory first half profit more than doubles, chair set to retire

(Alliance News) - FRP Advisory Group PLC on Tuesday lifted its dividend as profit more than doubled in the first half of its financial 2024, while it also said its non-executive chair will retire in the new year.

EARNINGS AND TRADING: Lendinvest completes securitisation

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

IN BRIEF: LendInvest notes LendInvest BTL prices fifth securitisation

LendInvest PLC - London-based non-bank mortgage lender - Notes LendInvest Btl Ltd prices its fifth securitisation of GBP410 million of UK prime buy-to-let mortgage loans in an oversubscribed residential mortgage backed security transaction. It expects the transaction to close next week Wednesday, and total funds under management to rise to GBP4.2 billion. LendInvest Chief Executive Officer Rod Lockhart says: "We're pleased to have priced LendInvest's fifth and largest securitisation transaction to date, which has drawn significant appetite from investors even during challenging market conditions, demonstrating the continued attractiveness of the asset class. LendInvest continues to leverage its technology platform to provide disruptive solutions in the mortgage market, giving us a competitive edge with brokers and borrowers and helping us to continue to attract diverse sources of capital."

UK shareholder meetings calendar - next 7 days

LendInvest expects profit to disappoint in current financial year

(Alliance News) - LendInvest on Tuesday cited high interest rates and inflation as it expects pretax profit in financial 2024, ending March 31, to be "materially below market expectations".

IN BRIEF: LendInvest notes data breach; investigation ongoing

LendInvest PLC - London-based non-bank mortgage lender - Says on Thursday it was notified of a customer and applicant personal data breach. Confirms the data was not held within LendInvest's main system. Notes data is no longer exposed and there is no evidence of personal information being misused. Breach investigation is ongoing.

LendInvest keeps profit up despite ongoing market headwinds

(Alliance News) - Lendinvest PLC on Tuesday said it slightly increased its annual profit and raised its total payout despite earnings falling amid an "uncertain" and "challenging" climate, expressing confidence in its resilience and adaptability.

Lendinvest hails strengthened partnership on Chetwood funding deal

(Alliance News) - LendInvest PLC on Monday said that it has received funding from Chetwood Financial Ltd to fund part of its future mortgage originations.

LendInvest sells buy-to-let residential mortgages hurt by rate hikes

(Alliance News) - LendInvest PLC on Tuesday announced the sale of a portfolio of buy-to-let residential mortgages to Chetwood Financial Ltd for around GBP243 million.