REG-Funding Circle Plc Funding Circle Plc: TST- Full Year 2024 Trading Update

Funding Circle HoldingsAnnouncement

14/01/2025 07:15

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   Funding Circle Plc (FCH)
   Funding Circle Plc: TST- Full Year 2024 Trading Update

   14-Jan-2025 / 07:00 GMT/BST

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   14 January 2025

                                        

                          Funding Circle Holdings plc

    

                         Full Year 2024 Trading Update

                                        

   Funding Circle Holdings plc (“Funding Circle” or the “Group”), the UK’s
   leading SME lending platform, is pleased to provide a trading update for
   the full year ended 31 December 2024.

    

   Business Performance

   Building on the strong half-year results published in September 2024, the
   Group delivered a good performance in the second half of the year,
   consistent with the Board’s expectations. Accordingly, we expect to
   deliver positive Group profit before tax for the full year in line with
   the upgraded guidance as set out in September 2024 and we remain on track
   with our medium term guidance.

    

   Funding Circle’s results for the full year ended 31 December 2024 will be
   published on 6 March 2025.

    

   Capital Return Update

   In October 2024, the Board announced a further £25m share buyback
   programme which is expected to be completed in Q2 2025. To date,
   approximately £10m of ordinary shares have been repurchased and cancelled.

    

   Lisa Jacobs, Funding Circle CEO, says:

   “Last March we set out a plan to be a simpler, leaner and profitable
   business whilst continuing to show strong growth. We successfully
   completed the sale of the US business in July, have simplified the UK
   business and delivered on our upgraded guidance. We enter 2025 well-placed
   to make further progress against our medium-term plan and help get finance
   to even more SMEs.”

    

    

    

   For further details:

   Funding Circle Holdings plc      1 ir@fundingcircle.com

   Lisa Jacobs, Chief Executive Officer     

   Tony Nicol, Chief Financial Officer

    

   Headland Consultancy

   Stephen Malthouse and Jack Gault (+44 20 3805 4822)

    

   About Funding Circle:

   Funding Circle (LSE: FCH) is the UK’s leading SME lending platform. Its
   mission is to build the place where small businesses get the funding they
   need to win.   Funding Circle enables small businesses to access funding –
   offering an unrivalled customer experience powered by data and
   technology.  For institutional investors, Funding Circle provides access
   to an alternative asset class in an underserved market, with robust and
   attractive returns.  Globally, Funding Circle has extended more than £16bn
   in credit to c.150,000 businesses.

    

    

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00BG0TPX62
   Category Code:  TST
   TIDM:           FCH
   LEI Code:       2138003EK6UAINBBUS19
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   370240
   EQS News ID:    2066703


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:ir@fundingcircle.com


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