(Corrects that Vector Capital PLC is based in London, not San Francisco.)

Vector Capital PLC on Monday reported a higher annual profit thanks to lenders being ‘on a growth path’.

Pretax profit in 2021 rose by 20% to £2.8 million from £2.3 million in 2020. Revenue climbed by 22% to £5.3 million, in line with company expectations announced in January, from £4.3 million. The firm’s loan book grew by 27% to £46.3 million from £36.4 million.

Vector Capital is a London-based commercial lending group which offers secured loans primarily to businesses and small property developers in England and Wales.

The proposed final dividend per share for 2021 stood at 1.51 pence versus 1.43p issued for 2020.

‘We are proud to be one of the select group of Alternative Investment Market quoted companies paying dividends and showing consistent capital growth,’ said Chair Robin Stevens.

Earnings per share fell to 5.24p from 5.58p due to an increase in shares issued. The number of weighted average shares rose to 43.7 million in 2021 from 34.1 million the year before.

For 2022, the company expects significant growth. ‘The market has been buoyant with many lenders on a growth path,’ Vector Capital explained. ‘No doubt a correction is due at some stage so we will always temper our growth plans with caution and sound underwriting,’ the company added.

Chief Executive Officer Agam Jain commented: ‘We continue to grow and explore further options to expand our loan book, maximise shareholder returns and further establish our place in the market segment.’

Vector Capital shares were 4.9% higher at 62.56p each in London on Tuesday.

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