29th Jun 2018 17:45
The information contained herein may only be released, published or distributed in the United Kingdom, the Isle of Man, Jersey and the Bailiwick of Guernsey in accordance with applicable regulatory requirements. The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, the Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this document.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
SEE "IMPORTANT INFORMATION" BELOW
29 June 2018
LENDINVEST SECURED INCOME PLC
AUDITED FINANCIAL STATEMENTS OF ITS PARENT, LENDINVEST LIMITED
LendInvest Secured Income plc (the "Company"), a wholly owned subsidiary of LendInvest Limited ("LendInvest"), the property finance lender, has published the audited financial statements of LendInvest for the twelve months up to 31 March 2018.
LendInvest has also delivered those audited financial statements to U.S. Bank Trustees Limited, as trustee of the £500,000,000 Euro Medium Term Note Programme of the Company's subsidiary, LendInvest Secured Income PLC.Financial highlights:
- Total loan originations up by 91% to £536m
- Revenue increased to £35.6m, up 61% from £22.1m
- Profit before tax rose to £1.8m
- Lending capital base grew 94% to £791m
Business highlights:
- Total homes funded grew 229% to 2109
- Listed the first tranche of a £500m retail bond programme on the London Stock Exchange which was oversubscribed and closed early
- Launched first longer-term loan product, offering Buy-to-Let mortgages up to 30 years in duration; supported by a substantial warehouse loan facility from Citigroup
Christian Faes, Co-Founder & CEO of LendInvest, commented: "At LendInvest we believe that it is possible to be a high-growth FinTech business without relying heavily on external capital to grow. For the past four years, we have demonstrated that we can grow our loan book 50-100% a year and remain profitable at an operating level. We have done this whilst continuing to make a significant investment in the growth of our business, and building out our proprietary technology."
Since 2015, LendInvest has consistently disclosed detailed strategic information regarding its position in the market, significantly in excess of statutory requirements.
Faes added: "As a modern financial services business, we feel we have a responsibility to our customers and investors to lift the lid on the health of our company regularly. Our Annual Reports give anyone the chance to look under the bonnet of what we're building and judge for themselves how well we live up to our reputation as a FinTech leader."
To review LendInvest's Annual Report for the year ending 31 March 2018, please visit: https://www.lendinvest.com/wp-content/uploads/2018/06/LendInvest-2018-Annual-Report.pdf
The statutory accounts for the year ended 31 March 2018 will be delivered to the Registrar in due course.
For further information, please contact:
Carmen Dixon
+44 (0)203 846 6820
IMPORTANT INFORMATION
The distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons who come into possession of this announcement or any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any jurisdiction.
This document contains statements that are, or may be deemed to be, 'forward-looking statements' with respect to the financial condition, results of operations and business of the Company or of LendInvest Limited (or its group) and certain of the plans and objectives of the Company, LendInvest Limited and its group with respect to these items. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would', 'should', 'expects', 'believes', 'intends', 'plans', 'projects', 'potential', 'reasonably possible', 'targets', 'goal', 'estimates' or words with a similar meaning, and, in each case, their negative or other variations or comparable terminology. Any forward-looking statements in this document are based on the current expectations of the Company, LendInvest Limited and its group (as applicable) and, by their very nature, forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance and no assurances can be given that the forward-looking statements in this document will be realised. There are a number of factors, many of which are beyond the control of the Company, LendInvest Limited and its group, that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include but are not limited to: the Risk Factors disclosed in the Company's Base Prospectus dated 19 July 2017 (which have not been updated since the date of its publication); changes in the economies and markets in which the group operates; changes in the regulatory and competition frameworks in which the group operates; the impact of legal or other proceedings against or which affect the group; and changes in interest and exchange rates.
All written or verbal forward-looking statements, made in this document or made subsequently, which are attributable to the Company, LendInvest Limited or any other member of the group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. No assurances can be given that the forward-looking statements in this document will be realised. This document speaks as at the date of publication. Save as required by applicable laws and regulations, none of the Company, LendInvest Limited or any member of its group intends to update any forward-looking statements and does not undertake any obligation to do so. Past performance of securities of the Company cannot be relied upon as a guide to the future performance of securities of the Company. Nothing in this document should be regarded as a profits forecast.
This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any securities.
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