We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Funding Circle Holdings Plc | LSE:FCH | London | Ordinary Share | GB00BG0TPX62 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.80 | -1.77% | 44.50 | 44.50 | 44.80 | 45.30 | 44.50 | 45.30 | 642,327 | 12:47:44 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Computer Programming Service | 155M | -6.5M | -0.0182 | -24.45 | 158.7M |
TIDMFCH
RNS Number : 5386E
Funding Circle Holdings PLC
19 October 2018
19 October 2018
Funding Circle Holdings plc
Q3 2018 Update
Funding Circle Holdings plc ("Funding Circle" or the "Company"), the leading small and medium enterprise ("SME") loans platform in the UK, US, Germany and the Netherlands, today announces updates to its statistics pages for the three months ending 30 September 2018 (the "Quarter") and selected highlights from the quarter.
The data by country included in this announcement is also available on the Company's website at corporate.fundingcircle.com/investors/loan-performance-statistics.
Group performance(1)
2018 2017 Q3 2018 Q3 2017 % YTD YTD % Loans under Management (excluding property(1) ) GBPm 2,777 1,726 61% N/A N/A N/A ------ --------- -------- ---- ------ ------ ---- Originations (excluding property(1) ) GBPm 564 388 45% 1,603 1,109 45% ------ --------- -------- ---- ------ ------ ----
Highlights:
-- Loans under Management (excluding property) of GBP2.8 billion as at 30 September 2018, up 61% compared to the same period last year
-- Originations (excluding property) of GBP564 million for Q3 2018 vs GBP388 million in Q3 2017, up 45%; total of GBP1.6 billion loans originated in the year to 30 September 2018
-- On 7 September 2018, Alcentra Group, an alternative fixed income specialist for BNY Mellon Investment Management, agreed to lend up to $1 billion to SMEs through Funding Circle's platform in the US over the next three years
-- On 18 September 2018 the Company announced Geeta Gopalan will join the Funding Circle Board on 1 November as a Non-Executive Director and Chair the Audit Committee
-- On 3 October 2018, the Company was admitted to trading on the Premium Listing segment of the London Stock Exchange. As part of the IPO, the Company raised gross proceeds of GBP300 million
Samir Desai CBE, CEO and co-founder said: "Funding Circle delivered a strong quarter of growth with loans under management of GBP2.8 billion and a record quarter for originations. The business continues to deliver our growth strategy and we remain focused on building Funding Circle for the long term."
Outlook for full year 2018
The Board confirms growth expectations remain unchanged for the full year.
Our statistics - Q3 2018
The following information is reproduced from each country's statistics pages, which can be found at corporate.fundingcircle.com/investors/loan-performance-statistics.
Loans under Management (million)
2012 2013 2014 2015 2016 2017 2018 YTD Group(2) (GBP) 52 145 366 860 1,362 2,107 2,809 ----- ----- ----- ----- ------ ------ --------- UK(2) (GBP) 52 144 332 653 1,027 1,583 2,013 ----- ----- ----- ----- ------ ------ --------- US ($) N/A 54 261 354 577 810 ------------ ----- ----- ------ ------ --------- DE (EUR) N/A 27 30 65 117 ------------------- ----- ------ ------ --------- NL (EUR) N/A 16 40 78 -------------------------- ------ ------ ---------
Originations (million)
2012 2013 2014 2015 2016 2017 2018 YTD Group(3) (GBP) 49 130 311 721 1,065 1,738 1,608 ----- ----- ----- ----- ------ ------ --------- UK(3) (GBP) 49 129 279 531 823 1,264 1,089 ----- ----- ----- ----- ------ ------ --------- US ($) N/A 334 281 514 540 ------------ ------------ ------ ------ --------- DE (EUR) N/A 33 19 55 78 ------------ ------------ ------ ------ --------- NL (EUR) N/A 21 34 56 ------------------- ------------- ------ ---------
Gross Yield
2012 2013 2014 2015 2016 2017 2018 YTD UK 9.2% 8.4% 10.0% 9.7% 9.7% 9.8% 9.8% ----- ----- ------ ----- ------ ------ --------- US N/A 14.2% 13.2% 12.5% 13.0% ------------ ------------- ------ ------ --------- DE N/A 7.2% 9.5% 9.5% 10.0% ------------ ------------- ------ ------ --------- NL N/A 9.3% 10.9% 11.9% -------------------- ------------- ------ ---------
Projected annualised return range (after fees and bad debt)(4)
2012 2013 2014 2015 2016 2017 2018 YTD UK 7.1%-7.2% 5.6%-5.8% 7.3%-7.4% 6.8%-7.2% 5.4%-6.3% 5.2%-6.2% 5.5%-6.5% ---------- ---------- ---------- ---------- ---------- ---------- ---------- US N/A 1.8%-2.2% 4.0%-4.8% 5.5%-7.1% 5.8%-7.8% ---------------------- ---------------------- ---------- ---------- ---------- DE N/A -0.1%-0.9% 2.3%-4.1% 4.8%-6.7% 5.3%-7.3% ---------------------- ---------------------- ---------- ---------- ---------- NL N/A 3.8%-4.8% 5.6%-7.5% 6.4%-8.4% ---------------------------------- ---------------------- ---------- ----------
Projected bad debt rate range(5)
2012 2013 2014 2015 2016 2017 2018 YTD UK 1.3%-1.3% 1.8%-2.0% 1.9%-2.0% 1.7%-2.1% 2.5%-3.3% 2.8%-3.8% 2.5%-3.5% ---------- ---------- ---------- ---------- ---------- ---------- ---------- US N/A 11.0%-11.4% 7.5%-8.3% 4.6%-6.1% 4.4%-6.4% ---------------------- ---------------------- ---------- ---------- ---------- DE N/A 4.7%-5.7% 4.4%-6.2% 1.7%-3.6% 1.7%-3.7% ---------------------- ---------------------- ---------- ---------- ---------- NL N/A 2.8%-4.0% 2.2%-4.2% 2.2%-4.2% ---------------------------------- ---------------------- ---------- ----------S
Media Enquiries:
Funding Circle
David de Koning - Director of Group Communications (press@fundingcircle.com / 0203 667 2245)
TB Cardew
Ed Orlebar (020 79300 777)
Tom Allison (020 79300 777)
About Funding Circle:
Funding Circle (corporate.fundingcircle.com) is a global SME loans platform, connecting SMEs who want to borrow with investors who want to lend in the UK, US, Germany and the Netherlands. Since launching in 2010, investors across Funding Circle's geographies - including more than 85,000 retail investors, banks, asset management companies, insurance companies, government-backed entities and funds - have lent more than GBP5.5 billion to over 55,000 businesses globally.
Forward looking statements and other important information
This document contains forward looking statements, which are statements that are not historical facts and that reflect Funding Circle's beliefs and expectations with respect to future events and financial and operational performance. These forward looking statements involve known and unknown risks, uncertainties, assumptions, estimates and other factors, which may be beyond the control of Funding Circle and which may cause actual results or performance to differ materially from those expressed or implied from such forward-looking statements. Nothing contained within this document is or should be relied upon as a warranty, promise or representation, express or implied, as to the future performance of Funding Circle or its business. Any historical information contained in this statistical information is not indicative of future performance.
The information contained in this document is provided as of the dates shown. Nothing in this document should be construed as legal, tax, investment, financial, or accounting advice, or solicitation for or an offer to invest in Funding Circle.
Definitions and notes to the editor:
1. In 2017, Funding Circle took the decision to no longer lend to property developers in the United Kingdom, the one market in which it had previously expanded its product set beyond amortising SME loans. As a result, the Board excludes property lending when measuring ongoing business performance.
2. Group and UK Loans under Management by year include property lending. Loans under Management related solely to property were, by year: 2012/2013: GBP0; 2014: GBP26 million; 2015: GBP115 million; 2016: GBP163 million; 2017: GBP95 million; September 2018: GBP32 million.
3. Group and UK originations by year include property lending. Group originations related solely to property lending were, by year: 2012/2013: GBP0; 2014: GBP23 million; 2015: GBP114 million; 2016: GBP171 million; 2017: GBP107 million; 2018 year to date: GBP5 million.
4. The projected annual return shows how loans are estimated to perform. Loans are shown by the year they were taken out, and are after fees and bad debt. Returns equal gross yield minus net losses minus servicing fee and is estimated, using an internally managed model, by cohort of origination incorporating actual returns received for each cohort and adding future expected returns which are determined using the same aforementioned model. Net yield is compounded to recognise re-investment. These expectations may be revised, for example if macroeconomic conditions change, and the projected return, projected gross yield and the projected bad debt rate may be adjusted to reflect this.
5. The projected bad debt rate shows the projected annualised percentage of loans, by loan amount, that will not be repaid. Loans are shown by the year they were taken out and include recoveries. It can take up to five years for loans to be fully repaid, so the projected return, projected gross yield and projected bad debt rate take into account how each year of loans are performing and how Funding Circle expects them to perform in future. These expectations may be revised, for example if macroeconomic conditions change, and the projected return, projected gross yield and the projected bad debt rate may be adjusted to reflect this.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTEAPEPFASPFFF
(END) Dow Jones Newswires
October 19, 2018 02:00 ET (06:00 GMT)
1 Year Funding Circle Chart |
1 Month Funding Circle Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions