Distribution Finance Capital builds on positive momentum in 2021

Specialist bank Distribution Finance Capital said on Monday that it had successfully built on the "positive momentum" and record new loan origination seen throughout the year.

Distribution Finance now expects its full-year financial performance to be in line with the internal expectations, with its loan book seen closing the year in the range of £250.0m to £275.0m, more than doubling since the start of the year and materially exceeding its prior peak of £213.0m.

The AIM-listed group also expects to achieve monthly run-rate profitability during the first quarter of 2022.

However, DF noted it was not immune to supply chain challenges and shipping delays reported across many global markets and stated it had been informed that critical orders for a number of its dealers would now arrive in January 2022, later than originally expected.

As of 1300 GMT, Distribution Finance shares were down 3.51% at 55.0p.