REG - Distribution Finance - Q3 Trading Update

Distribution Finance Capital HoldingsAnnouncement

03/10/2023 07:00

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RNS Number : 4449O  Distribution Finance Cap. Hldgs PLC  03 October 2023

 

 

3 October 2023

 

Distribution Finance Capital Holdings plc

("DF Capital" or the "Company" together with its subsidiaries the "Group")

 

 

Q3 trading update

Nine consecutive quarters of loan book growth

 

Distribution Finance Capital Holdings plc, a specialist bank providing working
capital solutions to dealers and manufacturers across the UK, announces its
third quarter trading update to 30 September 2023.

The momentum seen throughout the year has continued over the summer months,
with the Group's loan book exceeding seasonal expectations. At 30 September
2023, the Group's loan book reached almost £537m, up c22% since the year-end,
achieving nine consecutive quarters of loan book growth.

New loan origination has remained strong at £284m (Q3 2022: £247m) for the
quarter and closed up 30% at c£891m year-to-date (30 September 2022: £686m).

Stock turn continued to slow through the quarter to 156 days (6 months to 30
June 2022: 133 days), with average outstanding loan duration extending to 160
days from 145 days in Q2 2023, positively enhancing the Group's revenue
generation.

The Group's loan portfolio has continued to perform significantly better than
historical norms, with 33 dealers (30 June 2023: 29) or 2.8% (30 June 2023:
2.5%) of dealers with arrears of >1 day past due.

 

Carl D'Ammassa, Chief Executive, commented: "Our loan book growth has
continued at pace through the quarter, despite expected seasonality. As we now
head into the re-stocking season, through the autumn and winter, we are
pleased with the continued momentum in new loan origination. Accordingly, we
expect the Group to continue to perform in line with the Board's
expectations."

 

For further information contact:

 Distribution Finance Capital Holdings plc
 Carl D'Ammassa - Chief Executive Officer                                  +44 (0) 161 413 3391
 Kam Bansil - Head of Investor Relations                                   +44 (0) 7779 229508
 http://www.dfcapital-investors.com (http://www.dfcapital-investors.com/)

 Investec Bank plc (Nomad and Joint Broker)                                  +44 (0) 207 597 5970
 David Anderson

 Bruce Garrow

 Harry Hargreaves

 Maria Gomez de Olea

 Liberum Capital Limited (Joint Broker)                                      +44 (0) 203 100 2000
 Chris Clarke

 Lauren Kettle

 

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