Vector Capital plc (LON:VCAP), the commercial lending group that offers secured loans primarily to businesses located in the United Kingdom, has provided the following update on trading for the year ending 31 December 2023.The Company also provides confirmation of the interest rate payable on an inter-company loan.
Current Trading
The Group has continued to trade positively during the second half of the year, continuing the trend in its interim results, and the Board expects revenue, profit before tax for the full year and the aggregate loan book at the year-end to be in line with market expectations. Despite continued challenging conditions for many of our customers, and the relentless increase in interest rates earlier in the year, the Company has been able to generate new lending opportunities from our introducer base, and work with our existing clients to maintain profitable trading margins. The Board will continue to make prudent provision for doubtful debts within the full year financial statements. Demand for new loans remains strong and the Company expects to announce its full year results and recommend a final dividend for the year ended 31 December 2023 in early April 2024.
