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The Markets
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Tech

Funding Circle shares touch 33-month high as loan originations soar

Commercial lender Funding Circle Holdings PLC (LSE:FCH) soared more than 20% after releasing its half-year results on Thursday.

Loan originations grew 47% year on year to £692 million, while net income added 32% to £79.1 million.

Funding Circle reaffirmed its medium-term guidance of 15-20% revenue growth and profit-before-tax margins of 15%.

Chief executive Lisa Jacobs announced that a £25 million share buyback programme will commence following completion of the current buyback programme.

Shares rallied to 121.5p, the highest level since December 2021.

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