Sancus Lending Group Limited (GB:LEND) has released an update.
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Sancus Lending Group Limited reports a 23% increase in revenue but a significant operating loss for 2023 due to legacy loan write-downs and higher borrowing costs. The company is progressing with a strategic shift towards becoming a private credit and property-focused asset and wealth manager, with a recent joint venture aimed at improving their Channel Islands market position. Despite the challenges, the company has seen encouraging signs in early 2024, with an increase in pro-forma assets under management and a growing business pipeline.
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