Orchard Funding Group PLC Trading Statement (5964G)

TIDMORCH

RNS Number : 5964G

Orchard Funding Group PLC

05 March 2018

Orchard Funding Group PLC

("Orchard Funding Group" or the "Company" or the "Group")

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 2018.

Trading performance for the period was in line with the Board's expectations.

Demand for funding has led to an increase in our lending over the equivalent half year in 2016/2017.

The Group's lending performance for the period was as follows:

 
                  31 January        31 January   % increase/ 
                     2018              2017       (decrease) 
                     GBPm              GBPm 
 
 Lending               34.35             31.11        10.41% 
 
 
 
 Loan book     28.93   25.99   11.31% 
 
 

As a result of this increase in lending, interest income is expected to be higher than in the six months to 31 January 2017.

Orchard Funding Group will be announcing its interim results for the six-month period ended 31 January 2018 on 27 March 2018.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please contact

   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)

Jeremy Grime (Research Director)

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 05, 2018 02:00 ET (07:00 GMT)