Dominion Lending Centres, Inc. (Canada) Class A ( (TSE:DLCG) ) just unveiled an announcement.
Dominion Lending Centres Inc. reported a significant increase in its annual funded volumes, reaching $67.4 billion, a 19% rise from the previous year, which contributed to a 23% increase in revenues and a 47% boost in adjusted EBITDA. Despite these gains, the company faced a net loss primarily due to non-cash finance expenses related to the acquisition of preferred shares. The adoption of the ‘Velocity’ platform and the ‘Gold Rush’ campaign were key drivers of success, positioning the company well for future opportunities amid potential interest rate declines and upcoming mortgage renewals.
More about Dominion Lending Centres, Inc. (Canada) Class A
Dominion Lending Centres Inc. (DLCG) operates in the financial services industry, focusing on mortgage brokerage through its subsidiaries MCC Mortgage Centres Canada Inc., MA Mortgage Architects Inc., and Newton Connectivity Systems Inc. The company leverages its technology platform ‘Velocity’ to enhance broker-client connectivity and operates a network of franchisees and mortgage professionals.
YTD Price Performance: -0.90%
Average Trading Volume: 91,540
Technical Sentiment Signal: Sell
Current Market Cap: C$604.3M
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