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Vector Capital profit rises amid growing loan book

By BFN News | 09:00 AM | Monday 12 April, 2021

Commercial lender Vector Capital booked a rise in annual profit as its loan book swelled. Pre-tax profit for the year through December increased to £2.4 million, up from £2.0 million year-on-year, as revenue rose 14% to £4.3 million. The company's loan book grew 8.3% to £36.4 million. It declared a final dividend of 1.43p per share. 'We have delivered an excellent performance in the year under review and achieved strong growth across our key performance indicators, despite the challenges presented by the Covid-19 pandemic,' chief executive Agam Jain said. 'The AIM IPO at the end of last year provided access to further capital to increase our lending potential and to meet this demand.' 'We are trading positively and have seen strong growth within our loan pipeline in the first quarter of the new financial year.' 'The business is resilient, and our proposed dividend and progressive dividend policy reflects our confidence for the future as we establish ourselves as the go to lender of choice in our market segment.' Story provided by

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