Property finance platform LendInvest PLC (AIM:LINV) saw a sharp reduction in pre-tax losses in the first half of its financial year.
New lending volumes surged 30% to £539 million while net fee income shot up 71% to more than £11 million, leading to an 89% reduction in pre-tax losses to just £1.7 million.
Chief executive Rod Lockhart gave an optimistic outlook for the company’s prospects under the Labour Party’s pro-growth agenda.
He said: “While recent performance – including achieving profitability in September – has been encouraging, ongoing interest rate volatility, triggered by both macro-economic and geopolitical uncertainty, could present headwinds in H2.
“However, we are reassured by supportive UK Government measures aimed at catalysing house building, improving energy efficiency and professionalising the Buy-to-Let sector.
“As such, we remain cautiously optimistic about achieving run-rate profitability during the rest of the year.”
LendInvest shares added 3.5% to reach 26.4p each on Monday morning.