8 March 2019 – AGM statement

The company has issued a positive trading update for the first five months of the financial year with trading being strong and in line with management expectations.  New business origination in the five months to 28 February was  up 78% on the previous year at £98m and these are of better credit quality as well.  The loan portfolio now stands at over £255m (2018: £172m) and these are supported by retail deposits of £202m (2018: £72m).  The previous target of having a loan portfolio of £350m will be achieved ahead of schedule and the group is now targeting £750m by September 2022.   The integration of Azule is going well and the prospects for the group are promising.  The shares remain a BUY.