Funding Circle rises on better-than-expected H1 results

Funding Circle Holdings

07/09/2023 13:13

** Shares of lending platform Funding Circle  FCH.L  up 16%
at 47p; top gainer on London's smallcap index  .FTSC 
    ** Company reports H1 adjusted core loss of 3 mln pounds
($3.74 mln) vs a profit of 11.2 mln pounds
    ** Brokerage Peel Hunt says market consensus estimated 6.7
mln pounds of loss 
    ** FCH reiterates forecast provided in March for FY23 and
FY25
    ** "1H23 results for Funding Circle were above expectations,
despite deteriorating macro" - Peel Hunt
    ** Up to last day's close, stock down 14.5% so far this year
   


($1 = 0.8030 pounds)

 (Reporting by Zainab Saifuddin Saifee in Bengaluru)
 ((Zainab.SaifuddinSaifee@thomsonreuters.com; +91 8766460080;))