Relendex turned a profit in its last financial year, despite the challenges of the Covid-19 pandemic and its economic impact on the lending industry.
The peer-to-peer property lender made a profit of £135,760 in the 12 months to 31 January 2021, reducing its losses since inception to £5,773,702 – down from £5,909,462 the previous year.
The company also reported net assets of £2,251,143, up from £1,463,933 the previous year, according to documents filed with Companies House.
Cash at bank and in hand was valued at £1,083,668 on 31 January 2021, down from £1,596,088 on 31 January 2020.
Relendex decreased its headcount from 16 employees to 14 employees over the period.
Last year, Relendex chief executive Paul Sonabend told Peer2Peer Finance News that the platform had made a small profit in April, after taking a “sensible” approach to its trading at the start of the Covid-19 pandemic.
A Relendex spokesperson said that although the company was pleased with the 2021 financial results, it would not be commenting on the results at this time.
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