REG - Orchard Funding Grp - Trading Update

Orchard FundingAnnouncement

25/06/2024 07:00

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RNS Number : 6727T  Orchard Funding Group PLC  25 June 2024

25(th) June 2024

 

Orchard Funding Group PLC

 

Trading Update

 

Orchard Funding Group PLC ("Orchard", the "Group" or "Company"), the finance
group which specialises in insurance premium finance and the professions
funding market, provides the following Trading Update.

Trading year to date has been positive within the insurance premium finance
market driving revenue growth through increased lending. The Company has
applied a disciplined approach to its growth enabling the Group to maintain
income against a backdrop of higher interest rates. As a consequence,
management now expect that earnings will exceed current market guidance by
over 20%.

Ravi Takhar, the CEO of the Company stated:

"We continue to focus on the controlled and conservative growth of our
business and are pleased to be able to notify the market that we reasonably
believe, subject to final audit, that we will exceed current market guidance
by over 20%.

We continue to strengthen our lending in our core insurance premium finance
market as well as our lending in adjacent markets. We are optimistic that our
ability to lend, develop and operate our own software and our loyal and
experienced staff will continue to deliver positive results to the company and
all its stakeholders."

 

 

For further information, please contact:

 

Orchard Funding Group
PLC
            +44 (0)1582 346 248

 

Ravi Takhar, Chief Executive Officer

 

Liberum (Nomad and
Broker)
+44 (0)20 3100 2222

Investment banking

Edward Mansfield

 

For Investor Relations please go to: www.orchardfundinggroupplc.com
(http://www.orchardfundinggroupplc.com/)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. Upon the publication of this announcement via the Regulatory
Information Service, this inside information is now considered to be in the
public domain.

 

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