Shares in Distribution Finance Capital accelerated 13% on Wednesday morning after the firm said pre-tax profit for the year would come in ahead of expectations.
Pre-tax profit should sit at £3 million, up on 2022’s £1.2 million, the specialist lender updated, after a sustained strong performance in the fourth quarter.
Distribution Finance Capital’s loan book sat at £581 million at the year-end, the company added, up 32%, while new loan origination hit a record value of £1.2 billion.
Arrears equated to less than 3% of the group’s loan book, or below 1% excluding the roughly £10 million owed by collapsed caravan park firm RoyaleLife.
Shares climbed 13.3% to 25.5p.