First annual results for listed LendInvest introduce maiden dividend

By Oliver Smith on Wednesday 29 June 2022

Alternative Lending

Reaching £2.9bn of funds under management and seeing profits rise 190%.

First annual results for listed LendInvest introduce maiden dividend
Image source: Rod Lockhart/LendInvest.

High demand for LendInvest’s buy-to-let products helped the lender to deliver its most profitable set of annual results to date, with a profit before tax of £14.2m.

That profit was up 190 per cent for the year ending 31 March, and came on revenue of £87.8m (up 21 per cent year-on-year) and funds under management of £2.9bn (up 18 per cent YoY).

"We have delivered our most profitable set of results to date and successfully listed on AIM to support our growth ambitions,” said LendInvest CEO Rod Lockhart.

“Our performance is testament to the attractiveness of our model, demonstrated by our ability to attract significant capital from our investors and the strong demand from borrowers for our innovative offering and stand-out customer service.” 

Along with the results, LendInvest’s board is recommending a maiden dividend of 4.4p per share, a figure that Lockhart says he believes will be the start of a “progressive dividend policy” for the company.

"We remain at the forefront of the digital transformation of one of the last verticals of financial services yet to be disrupted by technology. While we are mindful of the uncertain economic environment, we are very excited about the significant opportunities ahead," he added.

It was also announced that co-founder Christian Faes is looking to move from executive chair, into a more traditional non-exec chairman role in the coming year.

Other milestones for the company in this past year following its listing in July 2021 when it raised £40m include the £100m sale of a prime buy-to-let loan book to JP Morgan in September and LendInvest’s third securitisation.

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