20th Jun 2025 09:57
(Alliance News) - Orchard Funding Group PLC shares surged on Friday as it said it expects to exceed current market earnings guidance by over 20%.
Shares in Orchard Funding Group were up 27% at 65.55 pence in London on Friday morning.
The Luton, England-based specialist in insurance premium finance and the professions funding market said trading in the 2025 financial year so far has been positive within the insurance premium finance market, supporting revenue growth through increased margins.
It said it has also benefited from reductions in the base interest rate and therefore expects earnings for the 12 months to the end of July to exceed expectations by more than 20%.
"We continue to focus on the controlled and conservative growth of our business," said Chief Executive Officer Ravi Takhar.
"We continue to strengthen our lending in our core insurance premium finance market as well as our lending in adjacent markets. We are optimistic that our ability to lend, develop and operate our own software and our loyal and experienced staff will continue to deliver positive results to the company and all its stakeholders."
By Michael Hennessey, Alliance News reporter
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