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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Funding Circle Holdings plc    FCH   GB00BG0TPX62

FUNDING CIRCLE HOLDINGS PLC

(FCH)
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Delayed Quote. Delayed London Stock Exchange - 01/22 11:35:09 am
95 GBX   +3.49%
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Funding Circle : ups forecasts after strong growth in Britain

11/24/2020 | 02:57am EST

LONDON (Reuters) - British loans platform Funding Circle said on Tuesday total income rose 38% on the year in the four months to end-October and it expected second-half earnings to be materially ahead of forecasts.

The company, which matches borrowers with retail and institutional investors, said the strong performance had been driven by demand in Britain, where total income rose 67%.

Loan repayments by consumers had also not been materially impacted by a second national COVID-19 lockdown, it said, although it continued to expect "a period of significant stress going forward".

In total, it said it had approved around 1.85 billion pounds ($2.47 billion) and originated around 1.35 billion pounds of loans linked to a UK government support scheme at Nov. 15, around 24% of the number of loans approved since it began taking part.

In the United States, total income was up 10% year on year in the four months to Oct. 30, driven by investment income, it said.

As a result of the strong performance, Funding Circle said it expected second-half total income to be ahead of the same period a year earlier and around 20% higher by year-end.

Cost reductions flagged at the half year stage would likely be less than the 15% expected, but it now expected adjusted earnings to be profitable in the second half, "materially ahead" of interim guidance of close to breakeven.

(Reporting by Simon Jessop, editing by Louise Heavens)

By Simon Jessop


© Reuters 2020
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Financials
Sales 2020 205 M 281 M 281 M
Net income 2020 -117 M -160 M -160 M
Net cash 2020 194 M 265 M 265 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 335 M 458 M 459 M
EV / Sales 2020 0,69x
EV / Sales 2021 0,72x
Nbr of Employees 1 004
Free-Float 73,0%
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Technical analysis trends FUNDING CIRCLE HOLDINGS PLC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 190,00 GBX
Last Close Price 95,00 GBX
Spread / Highest target 371%
Spread / Average Target 100%
Spread / Lowest Target -21,1%
Managers and Directors
NameTitle
Samir Desai Chief Executive Officer & Executive Director
Andrew Digby Learoyd Non-Executive Chairman
Oliver White Chief Financial Officer & Executive Director
Swati Lay Chief Technology Officer
Henry Willem Nelis Non-Executive Director
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