LendInvest is the leading asset management platform providing bridging loans, development finance, and buy-to-let mortgages for intermediaries, landlords and developers across the UK.
30 Jun 2022
Strong growth, surging profits and maiden dividend
LendInvest's first full year results as a publicly quoted company have not disappointed: it delivered strong top-line growth as it continues to gain market share, with AUM up 36% to £2.1bn and revenue up 21% to £88m.
But the standout feature of these results was operational gearing boosting profitability with adj EBITDA jumping 90% to £20.3m and PAT up 187% to £10.9m.
LINV is financially well-armed to pursue further growth with a strong balance sheet and ample lending capital from institutional investors. Indeed the Board has also recommended a maiden dividend of 4.4p per share, with a yield of 2.6%: a sure sign of confidence in the business' prospects, cash generation, and capital adequacy.
On the back of more challenging economic conditions, we have adjusted our FY23 AUM forecast down modestly (from £3.21bn to £3.07bn), as well as our PBT forecast (from £20.7m to £18.5m). In turn, our fundamental valuation moves to 270p per share from 310p which is still 62% above current levels.
Get research on the companies that interest you straight to your inbox
Equity Development is a partner to successful companies looking to enhance their investor relations. Our top-rated analysts produce best in class investment research. Based in London, UK, we help our clients connect with investors via presentations and interviews.