IN BRIEF: Vector Capital maiden results show solid loan book growth

Vector Capital PLC - London-based commercial lender - Provides maiden earnings report as listed ...

Alliance News 12 April, 2021 | 12:54PM
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Vector Capital PLC - London-based commercial lender - Provides maiden earnings report as listed company. Pretax profit grows to GBP2.3 million in 2020 from GBP2.0 million in 2019 as revenue rises to GBP4.3 million from GBP3.6 million. Loan book grows 8.3% to GBP36.4 million from GBP33.6 million the year before. Proposes final dividend of 1.43 pence, in line with policy.

Chief Executive Agam Jain says: "We have delivered an excellent performance in the year under review and achieved strong growth across our key performance indicators, despite the challenges presented by the Covid-19 pandemic. The AIM IPO at the end of last year provided access to further capital to increase our lending potential and to meet this demand."

"We are trading positively and have seen strong growth within our loan pipeline in the first quarter of the new financial year. The business is resilient, and our proposed dividend and progressive dividend policy reflects our confidence for the future as we establish ourselves as the go to lender of choice in our market segment," Jain adds.

Current stock price: 47.00 pence, up 9.3% on Monday

Year-to-date change: up 19%

By Paul McGowan;

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Vector Capital PLC Ordinary Shares 48.50 GBX 0.00 -

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