RCS - Distribution Finance - Progressive publishes new research

Distribution Finance Capital HoldingsAnnouncement

18/03/2021 07:30

RNS Number : 6962S
  
Distribution Finance Cap. Hldgs PLC
  
18 March 2021
  
 





Positioned for efficient growth
DF Capital (DFC) is a specialist SME (Small and Medium sized Enterprise) lender and personal savings bank operating in the UK. It secured permission to commence deposit taking at the end of September 2020 which has allowed it to successfully replace more costly wholesale funding with retail deposits. Having navigated the impact of COVID-19 with aplomb so far, the Group's recent capital raise doubled its lending capacity and we expect it to grow its loan book at pace. With an efficient business model, DFC is initially concentrating on its inventory finance product to secure run-rate profitability during Q4 2021, but holds the promise of supporting a poorly served market with the addition of new, longer term loan products in adjacent segments. Our scenario analysis suggests that one additional product could add at least 12% to our FY 2023E earnings estimate.




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Progressive helps you make informed investment decisions. FCA authorised and regulated, and with a 15-strong team of highly experienced analysts, we provide freely available institutional grade equity research and access to company management teams across every sector of the market.
 
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Broad coverage
 


Analyst calibre
 




across 12 sectors


 


 


 












 


 


 




Business Services


Oil & Gas


15
analysts


with average


20
years




Financials


Property


experience of




Healthcare


Retail








Industrials


Technology


30+






techMARK




Investment Trusts


Telecoms


industry based


Extel




Mining


Utilities


awards


StarMine



 
 
For further information please contact:
 
Emily Ritchie
+44 (0) 20 7781 5311
eritchie@progressive-research.com

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