Funding Circle Plc: TST- Full Year 2024 Trading Update

14 January 2025

 

Funding Circle Holdings plc

 

Full Year 2024 Trading Update

 

Funding Circle Holdings plc (“Funding Circle” or the “Group”), the UK’s leading SME lending platform, is pleased to provide a trading update for the full year ended 31 December 2024.

 

Business Performance

Building on the strong half-year results published in September 2024, the Group delivered a good performance in the second half of the year, consistent with the Board’s expectations. Accordingly, we expect to deliver positive Group profit before tax for the full year in line with the upgraded guidance as set out in September 2024 and we remain on track with our medium term guidance.

 

Funding Circle’s results for the full year ended 31 December 2024 will be published on 6 March 2025.

 

Capital Return Update

In October 2024, the Board announced a further £25m share buyback programme which is expected to be completed in Q2 2025. To date, approximately £10m of ordinary shares have been repurchased and cancelled.

 

Lisa Jacobs, Funding Circle CEO, says:

“Last March we set out a plan to be a simpler, leaner and profitable business whilst continuing to show strong growth. We successfully completed the sale of the US business in July, have simplified the UK business and delivered on our upgraded guidance. We enter 2025 well-placed to make further progress against our medium-term plan and help get finance to even more SMEs.”

 

 

 

For further details:

Funding Circle Holdings plc     ir@fundingcircle.com

Lisa Jacobs, Chief Executive Officer     

Tony Nicol, Chief Financial Officer

 

Headland Consultancy

Stephen Malthouse and Jack Gault (+44 20 3805 4822)

 

About Funding Circle:

Funding Circle (LSE: FCH) is the UK’s leading SME lending platform. Its mission is to build the place where small businesses get the funding they need to win.   Funding Circle enables small businesses to access funding – offering an unrivalled customer experience powered by data and technology.  For institutional investors, Funding Circle provides access to an alternative asset class in an underserved market, with robust and attractive returns.  Globally, Funding Circle has extended more than £16bn in credit to c.150,000 businesses.