Urban Exposure shares drop 10% on income warning

Market shares

Shares in Urban Exposure fell 12% on Friday to 88.00p as the company warned of “significantly reduced income” in the short term as it moves loans off its balance sheet and into its asset management business.

In a trading update on Friday morning, the company said the move would lead to “greater earnings potential via a larger asset management business”. It is also expected to free up capital for the business to make more debt investments during the rest of the year and 2019.

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