29th Jun 2022 12:02
LendInvest PLC - London-based non-bank mortgage lender - Nearly triples its pretax profit in the year ended March 31. Figure rises to GBP14.2 million from GBP4.9 million the previous year. Revenue jumps 21% to GBP87.8 million from GBP72.4 million. Chief Executive Road Lockhart calls it a "landmark year" for the company, delivering its most profitable set of results to date. Notes strong demand for its buy-to-let products, driving an increase in the total platform's assets under management which grew 36% to GBP2.15 billion from GBP1.57 billion the previous year. Funds under management rise to GBP2.94 billion from GBP2.48 billion. Recommends a maiden dividend of 4.4 pence per share.
Current stock price: 167.50 pence, up 0.6% in London on Wednesday
12-month change: down 15%
By Heather Rydings; [email protected]
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