Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Orchard Funding Ltd.
[{"type":"text","content":"\n \nRNS Number : 9047P Orchard Funding Group PLC 06 September 2017 \n\nOrchard Funding Group PLC\n(\"Orchard Funding Group\" or the \"Company\" or the \"Group\")\n \nTrading Update and Notice of Results\n \n \nOrchard Funding Group, the finance company which specialises in insurance premium finance and the professions funding market, provides the following trading update for the year ended 31 July 2017.\nLending, revenue and profit before tax numbers are all expected to be significantly higher than 2016. Overall Group performance has been sound and very much in line with management expectations.\n \nThe Group's lending performance for the year was as follows (figures extracted from the unaudited accounts):\n\n\n\n\n \n\n\n \n\n\n 31 July\n 2017\n\n\n \n\n\n 31 July\n 2016\n\n\n \n\n\n% growth\n\n\n\n\n \n\n\n\n\n\n £m\n\n\n \n\n\n £m\n\n\n \n\n\n\n\n\n\n\nLending:\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBroker finance companies\n\n\n \n\n\n42.66\n\n\n \n\n\n32.79\n\n\n \n\n\n30.10%\n\n\n\n\nDirect insurance\n\n\n \n\n\n7.35\n\n\n \n\n\n2.53\n\n\n \n\n\n190.51%\n\n\n\n\nProfessional funding\n\n\n \n\n\n13.34\n\n\n \n\n\n13.24\n\n\n \n\n\n0.76%\n\n\n\n\n \n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTotal lending\n\n\n \n\n\n63.35\n\n\n \n\n\n48.56\n\n\n \n\n\n30.46%\n\n\n\n\n \n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n\n\nLoan book:\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBroker finance companies\n\n\n \n\n\n17.91\n\n\n \n\n\n14.10\n\n\n \n\n\n27.02%\n\n\n\n\nDirect insurance\n\n\n \n\n\n3.81\n\n\n \n\n\n1.46\n\n\n \n\n\n161.00%\n\n\n\n\nProfessional funding\n\n\n \n\n\n6.70\n\n\n \n\n\n6.23\n\n\n \n\n\n7.54%\n\n\n\n\n \n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTotal loan book\n\n\n \n\n\n28.42\n\n\n \n\n\n21.79\n\n\n \n\n\n30.43%\n\n\n\n\n \n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \nGroup CEO, Ravi Takhar...