Orchard Funding Group PLC (LSE:ORCH) reported positive trading in its insurance premium finance market and said it expects 2025 earnings to arrive ahead of current market expectations.
In a trading update, for the twelve months ending 31 July, Orchard highlighted revenue growth driven by improved margins, as well as the benefit of reductions in the base interest rate.
Management said it expects 2025 earnings will beat expectations by more than 20%.
In London, Orchard shares were up 27%, changing hands at 65.55p, valuing the company at £14 million.
“We continue to focus on the controlled and conservative growth of our business,” chief executive Ravi Takhar said.
“We continue to strengthen our lending in our core insurance premium finance market as well as our lending in adjacent markets.
“We are optimistic that our ability to lend, develop and operate our own software and our loyal and experienced staff will continue to deliver positive results to the company and all its stakeholders.”