Orchard Funding Group PLC Trading Statement (4797Z)

TIDMORCH

RNS Number : 4797Z

Orchard Funding Group PLC

15 March 2017

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   31 January 
                           2017           2016      % growth 
                             GBPm         GBPm 
 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 [phone]

Ravi Takhar, Chief Executive Officer

finnCap Limited (Nomad and Broker) [phone]

Jonny Franklin-Adams (Corporate Finance)

Emily Watts (Corporate Finance)

Tim Redfern (Corporate Broking)

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

This information is provided by RNS

The company news service from the London Stock Exchange

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March 15, 2017 03:00 ET (07:00 GMT)