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Lendinvest PLC - London-based non-bank mortgage lender - Completes the sale of its non-risk retention interest in the Mortimer BTL 2021-1 PLC securitisation for £8.6 million cash to Citigroup Inc. Deal results in a reduction in gross loans and advances of £236 million and generates a net pretax profit of £10.8 million for the year to March 31, 2024 recognised through the profit & loss, or P&L. Continues to pursue further sales of financial assets which are expected to offset (or partially offset) the effect of above sale in P&L terms. As such, expectations for the year ended March 31, 2024 remain unchanged.
Current stock price: 83.75 pence
12-month change: down 57%
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