Funding Circle Holdings (FCH)

Sector:

IT Services

Index:

FTSE Small Cap

 86.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 410.00p
  • 52 Week Low: 86.10p
  • Currency: UK Pounds
  • Shares Issued: 348.40m
  • Volume: 14,268
  • Market Cap: £301.37m
  • RiskGrade: 315

Funding Circle H1 loss widens, FY guidance reiterated

By Michele Maatouk

Date: Thursday 08 Aug 2019

LONDON (ShareCast) - (Sharecast News) - FTSE 250 lending platform Funding Circle said on Thursday that its first-half loss widened as it reiterated guidance for the full year.
In the six months to the end of June, the company made an EBITDA loss of £19.7m compared to a £13.9m loss in the same period a year ago, while pre-tax losses widened to £30.8m from £27.1m. Group revenue rose 29% to £81.4m.

Funding Circle had already warned in an update in July that economic uncertainty had reduced demand for loans from small business and led the group to proactively tighten its lending criteria. As a result, it downgraded its full-year revenue growth guidance to around 20% from 40%.

Loans under management were up 37% in H1 to £3.54bn and originations rose 14% to £1.19bn.

The group reiterated the revenue guidance from July and said the adjusted EBITDA loss margin for 2019 will be better than the previous year.

Co-founder and chief executive officer Samir Desai said: "We continue to benefit from strong repeat dynamics from borrowers, with 46% of group revenue coming from existing customers, and attracting new investors to the platform.

"We remain confident in our aim to become the world's largest small business loans provider, helping millions of businesses to create jobs and support economic growth. Small businesses remain underserved. Our platform allows them to access the finance they need in a fast and affordable way, whilst at the same time, opening up a stable and attractive asset class to a broad range of investors."

At 1010 BST, the shares were up 5.1% to 104.4p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

FCH Market Data

Currency UK Pounds
Share Price 86.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 410.00p
52 Week Low 86.10p
Volume 14,268
Shares Issued 348.40m
Market Cap £301.37m
RiskGrade 315

FCH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.92% above the market average36.92% above the market average36.92% above the market average36.92% above the market average36.92% above the market average
42.55% above the sector average42.55% above the sector average42.55% above the sector average42.55% above the sector average42.55% above the sector average
Price Trend
61.12% below the market average61.12% below the market average61.12% below the market average61.12% below the market average61.12% below the market average
68.93% below the sector average68.93% below the sector average68.93% below the sector average68.93% below the sector average68.93% below the sector average
Income Not Available
Growth
12.69% above the market average12.69% above the market average12.69% above the market average12.69% above the market average12.69% above the market average
23.71% above the sector average23.71% above the sector average23.71% above the sector average23.71% above the sector average23.71% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 4
Sell 0
Strong Sell 1
Total 6
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FCH Dividends

No dividends found

Trades for 21-Jan-2020

Time Volume / Share Price
11:54 1,724 @ 87.00p
11:20 299 @ 86.50p
11:11 466 @ 86.50p
11:04 94 @ 89.90p
10:42 4,800 @ 87.42p

FCH Key Personnel

Chair Andrew Learoyd
CEO Samir Desai
CFO Sean Glithero

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