Orchard Funding Group PLC
("Orchard Funding Group" or the "Company")
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 2017.
Trading performance for the period was in line with the Board's expectations with pleasing growth in all segments of the business.
The Company's lending performance (our KPI's) for the period was as follows:
|
|
|
31 January 2017 |
|
31 January 2016 |
|
% growth |
|
|
|
£m |
|
£m |
|
|
|
Lending |
|
|
|
|
|
|
|
Broker finance companies |
|
20.60 |
|
16.46 |
|
25.15% |
|
Direct insurance |
|
3.69 |
|
0.84 |
|
339.29% |
|
Professional funding |
|
6.82 |
|
6.33 |
|
7.74% |
|
Total lending |
|
31.11 |
|
23.63 |
|
31.65% |
|
Loan book |
|
|
|
|
|
|
|
Broker finance companies |
|
16.05 |
|
13.46 |
|
19.24% |
|
Direct insurance |
|
3.17 |
|
0.76 |
|
317.11% |
|
Professional funding |
|
6.77 |
|
5.92 |
|
14.36% |
|
Total loan book |
|
25.99 |
|
20.14 |
|
29.05% |
Orchard Funding Group will be announcing its interim results for the six month period ended 31 January 2017 on 31 March 2017.
For further information:
Orchard Funding Group PLC +44 (0)1582 346 248
Ravi Takhar, Chief Executive Officer
finnCap Limited (Nomad and Broker) +44 (0)20 7220 0579
Jonny Franklin-Adams (Corporate Finance)
Emily Watts (Corporate Finance)
Tim Redfern (Corporate Broking)
For Investor Relations please go to: www.orchardfundinggroupplc.com