TIDMDFCH

RNS Number : 4449O

Distribution Finance Cap. Hldgs PLC

03 October 2023

3 October 2023

Distribution Finance Capital Holdings plc

("DF Capital" or the "Company" together with its subsidiaries the "Group")

Q3 trading update

Nine consecutive quarters of loan book growth

Distribution Finance Capital Holdings plc, a specialist bank providing working capital solutions to dealers and manufacturers across the UK, announces its third quarter trading update to 30 September 2023.

The momentum seen throughout the year has continued over the summer months, with the Group's loan book exceeding seasonal expectations. At 30 September 2023, the Group's loan book reached almost GBP537m, up c22% since the year-end, achieving nine consecutive quarters of loan book growth.

New loan origination has remained strong at GBP284m (Q3 2022: GBP247m) for the quarter and closed up 30% at cGBP891m year-to-date (30 September 2022: GBP686m).

Stock turn continued to slow through the quarter to 156 days (6 months to 30 June 2022: 133 days), with average outstanding loan duration extending to 160 days from 145 days in Q2 2023, positively enhancing the Group's revenue generation.

The Group's loan portfolio has continued to perform significantly better than historical norms, with 33 dealers (30 June 2023: 29) or 2.8% (30 June 2023: 2.5%) of dealers with arrears of >1 day past due.

Carl D'Ammassa, Chief Executive, commented: "Our loan book growth has continued at pace through the quarter, despite expected seasonality. As we now head into the re-stocking season, through the autumn and winter, we are pleased with the continued momentum in new loan origination. Accordingly, we expect the Group to continue to perform in line with the Board's expectations."

For further information contact:

 
 Distribution Finance Capital Holdings 
  plc 
 Carl D'Ammassa - Chief Executive Officer    +44 (0) 161 413 3391 
 Kam Bansil - Head of Investor Relations     +44 (0) 7779 229508 
 http://www.dfcapital-investors.com 
 
 Investec Bank plc (Nomad and Joint 
  Broker)                                     +44 (0) 207 597 5970 
 David Anderson 
  Bruce Garrow 
  Harry Hargreaves 
  Maria Gomez de Olea 
 
 Liberum Capital Limited (Joint Broker)       +44 (0) 203 100 2000 
 Chris Clarke 
  Lauren Kettle

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October 03, 2023 02:00 ET (06:00 GMT)

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