Reward gives Tradehold a leg up
Volatility in UK creates opportunities as lenders are increasingly loath to grant loans to smaller businesses
Tradehold, the hybrid investment company controlled by retail tycoon Christo Wiese, experienced a strong performance from its UK-based financial services specialist Reward in the six months to the end of August. Tradehold reported on Thursday that Reward, which specialises in asset-backed financing to small businesses in the UK, hiked turnover almost 20% to £4.4m. Reward’s net profit contribution increased 6% to £2m with the loan book growing 13%, to £43.7m. Wiese, chairman of Tradehold, noted that since its launch in 2011, Reward had shown consistent profitable growth. The continuing volatility in the UK business environment created substantial opportunities for Reward as banks and other mainstream lenders are increasingly loath to grant loans to smaller businesses, Wiese said. "Reward aggressively addresses this gap in the market," he said. The solid performance by Reward follows proposals by Tradehold, which is mainly underpinned by UK and South African properties, to split off a...
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