Jeepers
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Post by Jeepers on Feb 15, 2018 15:54:50 GMT
So, the late accounts have just been filed showing a £3.3m profit before tax on the day of our first disaster where investors are facing a £2.2m loss.
Should be plenty in the provision fund then !
Liam commented:
We’ve also experienced growth in every area of the business. All of that has made us one of the few profitable P2P platforms.”
The most noticeable growth being the defaults!
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elliotn
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Post by elliotn on Feb 15, 2018 16:28:06 GMT
3.3M, well done Ly!
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hazellend
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Post by hazellend on Feb 15, 2018 16:45:10 GMT
That is a pretty impressive profit for a growth stage company. Gives some confidence as to the stability of the platform.
Not sure why anybody would expect Lendy to use their profit to top up the provision fund, seems like that would be a pretty bad business decision
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Jeepers
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Post by Jeepers on Feb 15, 2018 16:58:51 GMT
They always said their intention was to top up the PF wherever possible.
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ingwer
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Post by ingwer on Feb 15, 2018 18:02:26 GMT
That is a pretty impressive profit for a growth stage company. Gives some confidence as to the stability of the platform. Not sure why anybody would expect Lendy to use their profit to top up the provision fund, seems like that would be a pretty bad business decision Leaving investors alone to pick up a shortfall for a 11% loan deemed to be a "safer" investment might also be a bad business decision. Going forward is all about confidence and a £2.2 million loss will provide suitable ammunition to the detractors.
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rocky1
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Post by rocky1 on Feb 16, 2018 8:17:11 GMT
LENDYS profits have come from us the LENDERS and not from their business skills.do lendy obtain 3 independant valuations before asking us to fund multi million pound loans.of course not. their claim of rigourous screening and their own DD before offering loans is just not good enough.tell us to do our own DD when they have more knowledge about the loan/lender than we can find out.lendy now have millions of pounds of our money tied up in DEF/IA/SUS loans with lenders earning nothing on many of investments for many months.i wonder if the member who does the polls on here asked for how many people were tied in for various amount from say 0-500 500-1000 up to say over 50000 earning 0% what would show were a lot of LENDYS profits have come from.
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