Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Specialist bank Distribution Finance Capital said it expected full year financial performance to be in line with its expectations, as supply chain challenges weighed on growth.
The company said it had been informed that critical orders for a number of its dealers would now arrive in January 2022, later than previously anticipated, amid supply chain challenges and shipping delays.
The group now expected its loan book to close the year in the range of £250 million to £275 million.
The loan book had reached £243 million as at the 30 November 2021, up from £202 million in September, more than doubling since the start of the year and materially exceeding the group's prior peak of £213 million.
'Accordingly, the board now expects the group to achieve monthly run-rate profitability during Q1 2022,' the company said.