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Distribution Finance Capital Holdings PLC on Wednesday reported higher profit for 2024 as its revenue increased and it swung to a net impairment gain on financial assets from a loss. The Manchester, England-based provider of financing solutions for dealers and manufacturers in the UK said its pretax profit multiplied to £19.1 million in 2024 from £4.6 million in 2023. Revenue climbed 35% to £76.8 million from £60.0 million while expenses grew 40% to £31.2 million from £22.3 million Net interest income was 21% higher at £45.6 million from £37.6 million. Distribution Finance swung to a net impairment gain on financial assets of £241,000 in 2024 from a loss of £11.6 million in 2023. The company did not declare a dividend, unchanged from the previous year. The year-end loan book grew by 15% to £666 million at the end of 2024 from £581 million a year ago. Distribution Finance said it believes the firm is on its way to achieving a return on equity in the ‘high-teens’, as it increased to 9.8% in 2024 from 6.7% in 2023. ‘Whilst the global macro-economic uncertainty and some negative business sentiments in the UK remain, I’m optimistic about DF Capital’s future prospects,’ said Chair Mark Stephens. Chief Executive Carl D’Ammassa said: ‘2024 was another year of significant progress for the group, marking our third consecutive year of profit growth since our authorisation in 2020. This year, we have continued to scale the bank in our core inventory finance lending space, whilst also making investments in new products and services, bringing to life our ambitions to become a multi-product lender.’ Shares in Distribution Finance Capital were down 6.4% to 35.20 pence in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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