Brief: Funding Circle Holdings Entered Into An Agreement For Sale Of Funding Circle's US Business To Ibusiness Funding

Funding Circle Holdings

24/06/2024 21:39

June 24 (Reuters) - Funding Circle Holdings PLC  FCH.L :
    * FUNDING CIRCLE HOLDINGS PLC - ENTERED INTO AN AGREEMENT
FOR SALE
OF FUNDING CIRCLE'S US BUSINESS TO IBUSINESS FUNDING, LLC
    * FUNDING CIRCLE HOLDINGS PLC - TRANSACTION WILL BE FOR A
TOTAL
CASH CONSIDERATION OF £33M
    * FUNDING CIRCLE HOLDINGS PLC - UK BUSINESS IS ON TRACK TO
BE
PROFITABLE IN H2, IN LINE WITH OUR GUIDANCE
    * FUNDING CIRCLE HOLDINGS PLC - OVER MEDIUM TERM WE EXPECT
NET
INCOME GROWTH OF 15-20% CAGR WITH PBT MARGINS OF >15%

Source text for Eikon:  ID:nPreD4YTza 
Further company coverage:  FCH.L 

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