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LONDON - Property finance platform LendInvest plc (LSE:LINV) reported a return to profitability in the second half of its fiscal year ended March 31, with total new lending growing 39% year-on-year to £1.23 billion.
The company recorded a profit before tax of £0.5 million in the second half, compared to a £1.7 million loss in the first half. For the full year, LendInvest narrowed its annual loss before tax to £1.2 million, a 96% improvement from the £31.1 million loss reported the previous year.
Adjusted EBITDA swung to a positive £3.2 million for the year, compared to a £19.0 million loss in the prior year, representing a 117% improvement.
The company’s Mortgages Division showed particularly strong momentum with lending rising 62% year-on-year. Platform Assets under Management increased by 16% to £3.23 billion, with 79% of those assets now managed on behalf of third parties.
Net fee income rose 48% to £22 million, while net interest income nearly doubled to £15.7 million, supported by new and renewed financing partnerships. Total (EPA:TTEF) operating expenses decreased by 22% to £39.8 million, with administrative expenses falling by 14%.
"FY25 marks a turning point for LendInvest," said Rod Lockhart, Chief Executive Officer. "Having returned to profitability in September, we delivered a sustained performance throughout the second half of the year."
The company secured several funding milestones during the year, including a £500 million upsize to its JP Morgan Separate Account, bringing it to £1.5 billion, and a £300 million syndicate with BNP Paribas (OTC:BNPQY) and HSBC renewed on improved terms.
LendInvest also completed its sixth securitization, which included its first securitization of owner-occupied loans.
The company reported operational efficiency gains, with Buy-to-Let underwriters now processing up to 6 cases per day, up from 4 in the previous fiscal year, representing a 50% increase in productivity.
According to the press release statement, LendInvest’s focus for the current fiscal year is on driving lending growth, improving efficiency, and growing profitability.
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