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Trading Statement

5 Mar 2018 07:00

RNS Number : 5964G
Orchard Funding Group PLC
05 March 2018
 

Orchard Funding Group PLC

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

 

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 2018.

 

Trading performance for the period was in line with the Board's expectations.

 

Demand for funding has led to an increase in our lending over the equivalent half year in 2016/2017.

 

The Group's lending performance for the period was as follows:

 

 

 

31 January

2018

 

31 January

2017

 

% increase/

(decrease)

 

 

£m

 

£m

 

 

 

 

 

 

 

 

 

Lending

 

34.35

 

31.11

 

10.41%

 

 

 

 

 

 

 

 

Loan book

 

28.93

 

25.99

 

11.31%

 

 

 

 

 

 

 

As a result of this increase in lending, interest income is expected to be higher than in the six months to 31 January 2017.

 

Orchard Funding Group will be announcing its interim results for the six-month period ended 31 January 2018 on 27 March 2018.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

For further information please contact

 

Orchard Funding Group PLC +44 (0)1582 635 507

Ravi Takhar, Chief Executive Officer

 

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

Jonny Franklin-Adams (Corporate Finance)

Emily Watts (Corporate Finance)

Jeremy Grime (Research Director)

 

 

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

 

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