Shojin reports 133pc rise in turnover
Shojin has reported a 133 per cent increase in turnover to £2.1m from £899,678, for the year ending 30 June 2022.
The peer-to-peer lending platform’s latest accounts show that the firm has seen profits rise by 85 per cent, from £773,528 in June 2021 to £1.4m at the close of the financial year on 30 June 2022.
Operating profit was also up by 153 per cent, from £210,922 to £534,375 over the same period, leaving a loss before taxation of £149,031 in June 2022, compared to £410,265 the previous year.
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Profit for the financial year and total comprehensive income came to £570,969, compared to a loss of £410,265 at the close of the same period in 2021.
Debtors at the close of the financial year totalled £4.8m, compared to £2m at the same point in the previous year.
Creditors falling due within one year at the close of the financial year totalled £3.2m, compared to £2.9m at the close of the previous financial year.
Creditors falling due after more than one year at the close of the financial year totalled £5.6m, compared to £3.8m at the close of June 2021.
Read more: Shojin to launch Jersey-incorporated fund
To date, Shojin has raised more than £34m to fund more than £200m worth of real estate development across twenty-nine projects.
While the company’s focus is still largely on UK-based property assets, it has recently expanded in to new jurisdictions such as Israel and India. It has also introduced new products such as a first charge development product and a secondary market.