Business
H2 2020 trading update
H2 2020 trading update.
About this update from Funding Circle Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9372L\n Funding Circle Holdings PLC\n 18 January 2021\n \n \n \n \n Funding Circle Holdings plc\n \n \n \n \n \n H2 2020 trading update\n \n \n \n \n \n Strong end to 2020 with total income and AEBITDA well ahead of previous expectations\n \n \n \n \n \n Embargoed until 7.00am, 18 January 2021\n \n \n \n \n \n THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014\n \n \n \n \n \n Funding Circle Holdings plc (\"Funding Circle\"), today \n announces H2 total income of £121m and AEBITDA of no lower than £15m, well ahead of previous expectations, supported by record loans under management and originations.\n \n \n \n \n \n Samir Desai CBE, CEO and Founder, said:\n \n \n \n \n \n \"As a result of Covid, we are seeing an acceleration in the shift towards online in small business lending. As the largest online SME loans platform we used our advanced technology to reach record levels of lending in 2020 and we are well placed to capture this enlarged opportunity going forward. \n \n \n \n \n \n We achieved Group AEBITDA profitability in the second half of 2020. This is a significant milestone for the business and we expect to continue to be AEBITDA profitable going forward. \n \n \n \n \n \n It has been a difficult year for many people and I'd like to thank all of our team who have worked exceptionally hard to help small businesses. Whilst we remain mindful of the uncertain economic environment, we are well positioned to help tens of thousands of small businesses in 2021.\" \n \n \n \n \n \n H2 2020 trading update1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 6 months to 31/12\n \n \n \n \n 12 months to 31/12\n \n \n \n \n \n \n £m\n \n \n \n \n 2020\n \n \n \n \n 2019\n \n \n \n \n %\n \n \n \n \n 2020\n \n \n \n \n 2019\n \n \n \n \n %\n \n \n \n \n \n \n Total Income\n \n \n \n \n Group\n \n \n \n \n 121\n \n \n \n \n 96\n \n \n \n \n 26%\n \n \n \n \n 222\n \n \n \n \n 177\n \n \n \n \n 25%\n \n \n \n \n \n \n United Kingdom\n \n \n \n \n 94\n \n \n \n \n 59\n \n \n \n \n 60%\n \n \n \n \n 153\n \n \n \n \n 112\n \n \n \n \n 37%\n \n \n \n \n \n \n United States\n \n \n \n \n 25\n \n \n \n \n 30\n \n \n \n \n -17%\n \n \n \n \n 63\n \n \n \n \n 52\n \n \n \n \n 21%...