18th Apr 2024 14:13
LendInvest PLC - London-based non-bank mortgage lender - Says in the year ended March 31, Platform assets under management grew 7.6% to GBP2.78 billion from GBP2.59 billion a year prior. Funds under management jumped 15% to GBP4.13 billion from GBP3.61 billion a year ago. Looking ahead, LendInvest expects to announce full-year results in line with market expectations with respect to both net operating income and pretax profit. Says it remains "cautiously optimistic" of returning to profitability during financial 2025. Chief Executive Officer Rod Lockhart says: "Throughout the year, despite the broader challenges, we've continued to make progress against our long-term strategic goals. Our adaptability in response to dynamic market conditions and commitment to our customers are underscored by our ongoing product innovation and the evolution of our proprietary next-gen technology."
Current stock price: 26.62 pence, up 4.4%
12-month change: down 68%
By Sabrina Penty, Alliance News reporter
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