Distribution Finance Capital Holdings plc AIM:DFCH
- Incorporated
- United Kingdom
- Chief executive
- Carl D'Ammassa
- Employees
- 155
- Reports in
- GBP
- Companies House
- 11911574
Read straight from the annual reports
74.6p at close on 5 Oct 2026 · 8 reported years, 2018–2025
| Line | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|
| Operating profit | — | — | |||||||
| Exceptional items | — | — | — | — | — | ||||
| Net finance cost | — | — | — | — | — | — | |||
| Profit before tax | |||||||||
| Adjusted profit before tax | — | — | — | — | — | — | |||
| Tax charge | |||||||||
| Profit for the year | |||||||||
| EBITDA | — | — | |||||||
| Adjusted minus statutory PBT | — | — | — | — | — | — | |||
| Basic EPS | |||||||||
| Diluted EPS | |||||||||
| Adjusted EPS | — | — | — | ||||||
| Dividend per share | — | — | — | — | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
6 years, at a glance
C000380-AR-2025-ch
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Inventory finance loan book (motorhome & caravan, transport, marine, automotive, motorcycle, lodges, industrial, agricultural)
Inventory Finance loans of £718.1m at year end 2025 out of total book £846m; largest sector Motorhome & Caravan £236.0m
page 6Structured Finance (bridging/development/receivables/wholesale finance)
Structured Finance loans reached c.£113m (2024: £75m), expected to remain 10-15% of book
page 12Net interest margin
NIM resilient at 8.0% (2024: 7.9%) despite falling base rate, due to repricing discipline
page 15Cost-to-income ratio improvement
Cost-to-income ratio improved to 57.4% (2024: 58.5%/59%) as the Group grows into its scalable cost base
page 16£1.5m credit: VAT recovery from HMRC (Partial Exemption Special Method reclaim)
page 15The Board has refreshed its growth targets out to 2030: a loan book in excess of £1.5bn, cost-to-income ratio of 45-48%, a return on required equity of c.20%, and tangible net assets growing 10-15% per annum. The Board believes retained earnings can fund this growth without a dilutive Tier 1 capital raise, and intends to pay a maiden dividend following FY2028 full-year results, subject to regulatory approval.
page 13No subsequent events between 31 December 2025 and the date of approval of the report (20 March 2026) that would have a material impact on the Group's financial position
page 177No dividend was paid or proposed for 2025 (2024: £nil). The Board's stated intention is to pay a maiden dividend following the FY2028 full-year results, subject to regulatory approval, as the growth plan to 2030 is expected to be funded through retained earnings.
page 98Directors adopted the going concern basis, having assessed capital/liquidity forecasts and stress testing over at least 12 months from approval. Deloitte LLP issued an unqualified (true and fair) audit opinion on both group and parent company financial statements, with expected credit loss (ECL) provisioning identified as the sole key audit matter (similar risk level to prior year). Group materiality was £1.2m (1% of total equity).
page 103- Credit risk — considered the Group's most significant principal risk, encompassing client default, credit concentration, repurchase/manufacturer risk and security/collateral risk; ECL provisioning was the sole key audit matterp.104
- Concentration risk — sector-level concentration monitored and limited (e.g. Motorhome & Caravan is 27.9% of gross loans)p.170
- Liquidity risk — managed via ALCo, daily liquidity reporting, Early Warning Indicators and a Liquidity Contingency Plan; Liquidity Coverage Ratio was 693% at period endp.18
- Interest rate / market risk — exposure to fluctuations in net interest margin and economic value of equity from rate movements; partially hedged via interest rate swapsp.175
Read from C000380-AR-2025-ch.
7 annual reports read, FY2019 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (7)
FY2026Next report expected 16 Apr 2027