Enra Specialist Finance has surpassed previous highs across all business lines in the year to 31st December 2022, according to its latest trading update.
The firm, which was acquired by Elliott Advisors in March 2022, saw record origination across all lending products in its lending brand West One and record revenues in its broking business Aria Finance.
Overall group lending performance in 2022 totalled nearly £2bn. and assets under management across the group rose nearly 40% in the year.
Despite twin headwinds of political instability and rate volatility, 2022 saw West One deliver its highest level of originations across all product lines: bridging, development finance, second charge lending, and buy-to-let.
The year saw Enra bring together its two historic broking brands Enterprise and Vantage Finance into one entity consolidating the broking business under managing director Lucy Barrett. A move that led to Aria Finance exceeding budget and positioning the business for further success in 2023.
Significant results were also delivered by Enra on the funding side of the business, with the firm’s second securitisation (Elstree 2) achieving tight pricing in H1 2022, and Enra inking two new funding agreements in H2 2022 to augment its existing facilities.
Danny Waters (pictured), Enra CEO, said: “2022 was a massive year for our business. Despite the market volatility the Enra team has delivered a phenomenal set of results. Our audited results will be published in early Q2, but I fully expect to deliver close to £40m of EBITDA.
“All of our lending lines are up on 2021, with a particularly impressive performance from our Bridging and Second charge businesses. I’m also delighted that combining our two master broking brands into our new specialist distributor Aria Finance has paid off handsomely.
“Some of the uncertainty that dogged the second half of 2022 remains, but I’m extremely confident in the Enra team’s ability to make their own weather and manufacture success in any market.
“With the equity and additional funding arrangements put in place in 2022 Enra remains extremely well capitalised, well-funded, and perfectly positioned to provide specialist financial advice and significant lending capacity through 2023.”
