Orchard Funding Group PLC - Luton, England-based professional fee funding provider - Posts revenue of £3.8 million for the six months ended on January 31, up 30% from £2.9 million the year before. Pretax profit rises by 25% to £1.3 million from £1.0 million, as operating profit increases to £1.2 million from £998,000 the year before. Net total income increases to £2.9 million from £2.3 million. Declares an interim dividend of 1.0p per share, unchanged from a year prior. Looking ahead, it remains cautiously optimistic as the economic outlook shows ‘signs of improvement’.

Chief Executive Officer Ravi Takhar says: ‘We have started the first half of the year positively and ahead of our original projections. Whilst our income continues to grow as a result of increased lending, our costs of borrowing are increasing significantly as a result of bank base rate increases.’

Current stock price: 42.73 pence each, up 8.2% on Thursday around noon in London

12-month change: down 20%

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