Distribution Finance Capital Holdings plc (LON:DFCH), a specialist bank providing working capital solutions to dealers and manufacturers across the UK, has announced that the Group continues to build on the positive momentum and record new loan origination seen through the year, expecting its full year financial performance to be in line with the Board’s expectations.
The Group is not immune to the supply chain challenges and shipping delays reported across many global markets. The Company has been informed that critical orders for a number of its dealers will now arrive in January 2022, later than previously anticipated.
The Group expects its loan book to close the year in the range of £250m to £275m. The Group is pleased to confirm its loan book reached c£243m as at the 30 November 2021 (September 2021: £202m), more than doubling since the start of the year and materially exceeding the Group’s prior peak of £213m. Accordingly, the Board now expects the Group to achieve monthly run-rate profitability during Q1 2022.
Distribution Finance expects to announce its full year end trading update during the middle of January 2022.