Sancus Lending Group Limited NPV (LEND)

Sector:

Investment Firms

 0.55p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.85p
  • 52 Week Low: 0.18p
  • Currency: UK Pounds
  • Shares Issued: 6.27m
  • Volume: 0
  • Market Cap: £0.03m

GLI Finance shutters loss-making supply chain unit

By Iain Gilbert

Date: Friday 08 Feb 2019

LONDON (ShareCast) - (Sharecast News) - GLI Finance announced on Friday that it will close its loss-making supply chain finance unit in order to focus on its asset-backed lending offering.
The AIM-listed outfit said, while Sancus Finance's performance improved in 2018, the division was still behind management expectations with a forecast operating loss of £1m for the year.

GLI believes the market for supply chain finance "has changed significantly", with credit insurers reducing appetite to write cover and increasing premiums markedly.

The group's remaining operations in the UK will remain focussed on its core asset-backed lending offering, provided by Sancus BMS.

In terms of results, GLI said Sancus BMS saw revenues grow approximately 28% year-on-year to £13m after it generated record loan origination levels of £168m - a 21% improvement.

However, GLI warned that it expects to suffer "further material write-downs" in its fintech ventures portfolio after it became increasingly apparent that several of its investments were "finding it harder to raise further capital at the valuation levels previously expected".

"Those that successfully raised further capital in 2018 are better placed to execute on their long-term business plans but this has, in some cases, resulted in a significant dilution for GLI," added GLI.

As of 1045 GMT, GLI shares had tumbled 31.03% to 5p.

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LEND Market Data

Currency UK Pounds
Share Price 0.55p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.85p
52 Week Low 0.18p
Volume 0
Shares Issued 6.27m
Market Cap £0.03m

LEND Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
19.66% below the market average19.66% below the market average19.66% below the market average19.66% below the market average19.66% below the market average
11.78% above the sector average11.78% above the sector average11.78% above the sector average11.78% above the sector average11.78% above the sector average
Price Trend
74.9% below the market average74.9% below the market average74.9% below the market average74.9% below the market average74.9% below the market average
93.87% below the sector average93.87% below the sector average93.87% below the sector average93.87% below the sector average93.87% below the sector average
Income Not Available
Growth
6.99% above the market average6.99% above the market average6.99% above the market average6.99% above the market average6.99% above the market average
10.03% above the sector average10.03% above the sector average10.03% above the sector average10.03% above the sector average10.03% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LEND Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 02-Mar-17 27-Oct-16
Paid 21-Apr-17 15-Dec-16
Amount 0.62p 0.62p

Trades for --2024

Time Volume / Share Price
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