# Vector Capital deliver a robust set of interim results

- Link: https://www.directorstalkinterviews.com/vector-capital-deliver-a-robust-set-of-interim-results/4121126574
- Published: 2023-09-05T07:13:29+01:00
- Author: Ethan Davis

**Vector Capital Plc** (LON:VCAP), a commercial lending group that offers secured
loans primarily to businesses located in England and Wales, has announced its interim
results for the six months ended 30 June 2023.

**Highlights**

| ·      | Revenue for the period £2.9m (H1 2022: £3.0m) reflecting a prudent approach to new lending. | 
| ·      | Profit before tax £1.3m (H1 2022: £1.6m) reflecting an increase in the doubtful debt reserve of £167,000 and an inflationary effect on overheads. | 
| ·      | Loan book at 30 June 2023 £48.8m (December 2022: £53.2m), as a result of net redemptions during the period. | 
| ·      | Interim dividend of 1.00p per share (2022: 1.00p), recognising a resilient performance in challenging market conditions. |

**Operational Highlights**

| ·
·        | Increase in wholesale banking facilities from £40m to £45m during the period. Extended and more flexible facilities to allow greater capacity for loans secured on second charges. | 
| ·      | Continued investment in the technology platform to improve operational resilience and efficiency. | 
| ·      | Further engagement in staff training and development. | 
| ·      | Best practice ESG policies in place to support responsible lending and encourage [sustainability](https://www.directorstalkinterviews.com/sustainability-green-stocks-news) across the business. |

> **Agam Jain, CEO of Vector Capital, commented:** _“We are very pleased to report
> a robust set of interim results. The trading climate for the first six months 
> of this year has been set by the backdrop of historic base rate rises from 0.10%
> in March 2020 to 5% in June 2023, and now 5.25 %. For those borrowers experiencing
> difficulty, our approach is to be flexible and supportive where we believe that
> the circumstances justify this methodology._
> _Our strategy this year has been to seek to maintain higher liquidity, with a 
> correspondingly lower loan book and reduced wholesale borrowings. To the extent
> that we lend our own capital we can now earn a much higher return than previously.
> We have a strong capital base which provides the Board with a high level of confidence
> that we can weather continued or increased economic headwinds._
> _Our pipeline is healthy with a steady stream of enquiries from our Broker network
> allowing us to pick and choose the deals that suit us.”_

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