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 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.
