Distribution Finance Capital Holdings PLC - Manchester-based bank providing personal savings products and working capital to dealers and manufacturers - Says new loan origination exceeded GBP439 million in the six months to June 30, up materially from GBP295 million the year before. Loan book as at June 30 amounts to GBP308 million, up 85% from GBP167 million. Increases its manufacturers by 15% to 85 from 74. Continues to perform in line with its own expectations, despite the wider economic uncertainty.
"I am pleased with the progress we continue to make as a firm. Our performance during the first half of this year demonstrates the need for our lending products," Chief Executive Carl D'Ammassa says.
"The economic environment remains volatile and supply chains continue to be impacted. However, with over GBP700 million of loan facilities now in place, utilisation levels expected to increase as we head towards the end of the year, and a strong capital base, I believe we have all the foundations in place to support our near-term growth ambitions."
Current stock price: 35.00 pence
12-month change: down 43%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Distrib. Fin. (DFCH)