11th Sep 2025 11:42
(Alliance News) - Distribution Finance Capital Holdings PLC on Thursday reported "record new lending" during the first half of 2025 and a rise in "overall profitability".
The Manchester, England-based provider of financing solutions for dealers and manufacturers in the UK said pretax profit in the six months that ended June 30 was GBP9.0 million, declining 1.5% from GBP9.2 million a year earlier.
This was largely driven by impairment charges surging to GBP2.2 million from GBP106,000 a year prior.
Adjusted pretax profit increased 20%, however, to GBP9.0 million from GBP7.5 million. Revenue rose 14% to GBP43.3 million from GBP37.9 million.
New lending grew 17% on-year to a record GBP828 million.
"The group has made great progress in achieving our strategic ambitions and enjoyed another period of growth which underpins the significant increase in overall profitability," said Chief Executive Officer Carl D'Ammassa.
"We continue to scale the bank efficiently and the launch of our asset finance product will significantly expand our addressable market opportunity whilst also deepening our relationships with manufacturer and dealer customers in the sectors we currently serve. With this fuller suite of products and services, DF Capital has an abundance of opportunities to grow lending. The foundations are now in place upon which we can build our medium-term growth plans."
Adjusted tangible net asset value at June 30 was 70.2 pence, up 18% from 59.6p a year prior.
Shares in Distribution Finance Capital were up 10% at 55.14 pence in London on Thursday morning. The stock has risen 81% over the past year.
D'Ammassa continued: "Given the progress during the period, we expect full year results to be materially ahead of current market expectations, supporting the pace of our journey to deliver on the medium-term targets we laid out at the start of the year including ending FY28 with a loan book of [around] GBP1.3 billion and a mid-teens return on equity."
By Emily Parsons, Alliance News reporter
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