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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Time Finance Plc | TIME | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.00 | 1.59% | 64.00 | 13:39:08 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 63.00 | 63.00 | 64.00 | 63.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 19/12/2024 08:35 by someuwin Cavendish"Time Finance (TIME): CORP Time for a Christmas update Time Finance has released its 1H25E trading update pointing to a continuation of strong performance. The gross book grew 11% to £209m (1H24A: £189m) meaning the Group remains on track to hit its 4-year plan to approximately double the book by May 2025. The quality of the growth has remained high with Invoice Finance and the ‘Hard’ subset of Asset Finance representing c.85% of new deals originated in the period, leading to net bad debt write-offs remaining stable at just 1% of the average lending book. Revenue increased 16% to £18.2m (1H24A: £15.7m) whilst PBT increased an impressive 44% to £3.9m (1H24A: £2.7m) giving the company a good chance of outperforming our recently upgraded FY25E PBT of £7.2m given the compounding nature of the growing loan book. Overall, due to operational gearing and Invoice Finance growth driving higher margin revenue mix, there was a significant increase in PBT margin by 4pp to 21% (1H24A: 17%), something we expect to continue to trend higher as the business further expands. Time’s valuation looks compelling trading on a FY26E basic P/E of 9.2x and FY26E P/TNAV of 1.1x. We reiterate our 1-year price target of 112p, representing nearly 100% upside." |
Posted at 12/11/2024 12:25 by rivaldo Excellent update as usual.And just tipped again today by the IC's Simon Thompson: "Simon Thompson: A lowly rated small business specialist is upgrading earnings guidance again and it’s unlikely to stop This lender's upgrade cycle is far from over Published on November 12, 2024 by Simon Thompson Profits at least 5 per cent ahead of market expectations Forward PE ratio of 10 and 1.2 times tangible book value Bath-based Time Finance (TIME:55.5p), a provider of invoice finance, asset finance and loan finance to more than 10,000 small and medium-sized enterprises (SMEs) has upgraded earnings guidance in an unscheduled first-half trading update. The positive trading environment is underpinned by the reluctance of high-street banks to provide funding to SMEs, and Bank of England base rate cuts, too. Buoyed by record revenue, a loan book at an all-time high and stable arrears, the directors expect to deliver at least 22 per cent growth in pre-tax profit to £7.2mn (upgrade from £6.9mn) on 6 per cent higher revenue of £35.1mn in the 12 months to 31 May 2025. On this basis, expect earnings per share (EPS) of 5.9p. etc" |
Posted at 12/11/2024 07:55 by someuwin Cavendish today..."Time Finance (TIME): CORP Timely earnings upgrade Time has released a positive trading update which shows that momentum has continued into FY25E. The Company continues to grow the lending book to record sizes and generate record revenues. As ever, the quality of the book has not been lessened to achieve this growth. In-line with guidance, we have upgraded our FY25E revenue forecast by 2% to £35.1m, which feeds through to a 5% upgrade at the FY25E PBT and EPS level. Its valuation continues to look compelling trading on a FY26E Basic P/E of just 8.8x and FY26E P/TNAV of 1.1x. We reiterate our 1-year price target of 112p, representing nearly 100% upside." |
Posted at 11/11/2024 12:40 by someuwin Time presenting this Wednesday...Shares Investor Evening (London) - LIVE EVENT - 13 November 2024 Wednesday 13 November 2024 Ashoka India Equity Investment Trust, Investment Evolution Credit, Pantheon Infrastructure and Time Finance Join Shares and AJ Bell for an evening of investment inspiration and get to meet the decision-makers. The event on Wednesday 13 November in London will include: An opportunity for you to talk directly with the directors and ask your questions about the companies core strengths and their short and long-term business strategy Meet fellow investors and share your investing experience Complimentary drinks and refreshments The following companies will be presenting: ... 18.00 - 18:30 Time Finance James Roberts, FD - Time Finance (TIME) Ed Rimmer, CEO - Time Finance (TIME) |
Posted at 06/11/2024 13:10 by someuwin Time Finance eyes North West growth with new Birchwood officeLeading independent business finance provider, Time Finance, has launched new office premises at The Square at Birchwood Boulevard as the business looks to expand its asset finance services for SMEs across the UK. Taking a five-year lease, Time Finance now occupies 4,593 sq ft of new office space in Birchwood where its 40-strong northern Asset Finance team will be based, relocating from its former premises in Warrington. The move forms part of Time Finance’s long-term growth plan and closely follows the business’ financial results, which saw a 20% increase in turnover to £33.2m and a 41% rise in pre-tax profit to £5.9m for the year ending May 2024. From its new offices, Time Finance will grow its Asset Finance services, helping businesses in sectors such as manufacturing, engineering, construction, recycling, transport, logistics plus bus and coach as well as the traditional soft asset sectors they have always supported. The office will also support the expanded delivery of Time Finance’s growing Asset Based Lending (ABL) service, through which businesses can access finance by using existing assets as capital. Ed Rimmer, Chief Executive Officer at Time Finance, commented: “We are on a really exciting growth path as we reach more businesses, particularly SMEs, with our creative and flexible finance solutions. Being able to serve our growing portfolio of deals is reliant on investing in our teams across the UK, giving them strategically located offices from which they can provide an exceptional service for our network of broker partners. We’re very excited for the future in our new Birchwood premises; it is an important part of our own growth and that of our clients across the North West and beyond.” Steve Nichols, Managing Director of Asset Finance at Time Finance, added: “Our relocation to Birchwood represents growth for our Asset Finance team as we seek to reach more UK SMEs, while also improving our connectivity and giving our team a reinvigorated space to deliver our services. “Asset Finance is a valuable tool for businesses looking to access the equipment they need to grow, but when used alongside Time Finance’s other services as part of a multi-product solution, it allows businesses to access capital tied up in their existing equipment. We look forward to reaching even more businesses with our creative funding solutions as we grow in our new office.” Time Finance specialises in the provision of funding solutions to over 10,000 UK businesses seeking to access the finance they need to realise their growth plans. As well as Invoice Finance, UK Businesses can take advantage of Time Finance’s extensive portfolio comprising: Asset Finance, Business Loans and Asset Based Lending. |
Posted at 31/10/2024 10:07 by rivaldo New positive article on Master Investor - subscription-only unfortunately:"Small Cap Comment – Time Finance Having followed Time Finance for the last 18 years, Mark Watson-Mitchell remains a fan of its business model and anticipates further growth over the next few years, shares now 53p, Brokers TP 112p. Mark Watson-Mitchell Oct 31, 2024 Time Finance (LON:TIME) – The Growth Continues And Now With Extra Funding I do not expect any fireworks at next Tuesday’s AGM being held at the Hilton Manchester Deansgate from this AIM listed independent specialist finance provider. What I do expect though is some confirmation that the £53m capitalised group is still on track to record a near 25% increase in current year profitability. The Business Time Finance's purpose is to help UK businesses thrive and survive through the provision of flexible funding facilities. It offers a multi-product range for SMEs concentrating on Asset, Loan and Invoice Finance. While focussed on being an 'own-book' lender, the group does retain the ability to broke-on deals where appropriate, enabling it to optimise business levels through market and economic cycles. etc" |
Posted at 27/9/2024 06:23 by rivaldo Commentary from Master Investor - TIME is trading at a "giveaway" price:"Today I follow-up on an old favourite of mine, Time Finance (LON:TIME), after yesterday’s Final Results for the year to end May. Revenue for the year was £33.2m, a 20% increase of £5.6m year-on-year, while the pre-tax profit was £5.9m, a significant uplift on the previous year (£4.2m). Chair Tanya Raynes stated that: "The Group's financial performance, over the third year of our four-year strategy, was particularly strong. Despite wider macro-economic headwinds, revenue, profit and earnings per share all saw double-digit growth, with revenue and profit ahead of market expectations. At the same time, the Group's Balance Sheet has continued to strengthen with the lending book and Net Tangible Assets hitting record highs at 31st May 2024 and growing further still through the current financial year. As a result, we remain confident in achieving the targets we set in our 2021 strategic plan." The Business Time Finance considers that its purpose is to help UK businesses thrive and survive through the provision of flexible funding facilities. It offers a multi-product range for SMEs concentrating on Asset, Loan and Invoice Finance. While focussed on being an 'own-book' lender, the group does retain the ability to ‘broke-on̵ Outlook Amidst the turmoil of the external economic and political environment, the group’s financial results for the year were above initial expectations, leaving it confident that of delivering another strong outcome. The strength of the balance sheet, together with its liquidity in the form of available operational debt facilities for lending and cash held, ensures that it is well-placed to take advantage of future opportunities over the short-to-medium term. CEO Ed Rimmer stated that: “Both from a financial and operational perspective I am very pleased with the performance of the Group. Great strides forwards have been taken in both of our core divisions - Asset Finance and Invoice Finance - which have seen significant increases in their lending books while, crucially, adhering to strong portfolio management and control. Our brand has continued to grow and be enhanced within our key introducer base and the focus on recruiting high-calibre staff has continued. The Group, therefore, remains very well positioned and there is real optimism in our ability to continue to increase shareholder value. With the changes made over the last three years to the business, including the people tasked with delivering our strategy, and the work we are doing to deliver growth in a more efficient way, I am confident we will continue to see the business deliver shareholder value.” Analyst View At Cavendish Capital Markets, its analyst Andrew Renton is estimating that the current year to end-May 2025 will show total revenues of £34.5m (£33.2m), while adjusted pre-tax profits could increase to £7.2m (£6.0m), lifting earnings to 5.8p (4.9p) per share. For the following year he sees £37.0m revenues, £8.3m profits and earnings of 6.8p per share. He is very confident that his estimates will be achieved and, accordingly, he has increased his Price Objective to 112p (71p) per share. In My View This £50m capitalised group’s shares are trading at only 54p, which I consider to be a ‘giveaway price’ and one not to be missed." |
Posted at 25/9/2024 06:17 by whites123 Better than expected results and a Trading update as well showing continued growth.Amazing results. Q1 Trading Update Record Quarterly Revenues, Net Tangible Assets and Lending Book Time Finance plc, the AIM listed independent specialist finance provider is pleased to announce the following update on the Group's trading performance for the first quarter of the current financial year covering the three months to 31 August 2024. Unaudited Q1 financial highlights: · Own-Book lending origination up 9% to £22.1m (Prior Year Q1: £20.2m) · Revenue up 20% to £9.1m (Prior Year Q1: £7.6m) · Profit before Tax up 46% to £1.9m (Prior Year Q1: £1.3m) · Net Tangible Assets up 14% to £40.1 at 31 August 2024 (31 August 2023: £35.2m) · Gross lending-book up 17% to £205.3 at 31 August 2024 (31 August 2023: £175.8m) · Net Arrears are stable at 5% of the gross lending book at 31 August 2024 (31 August 2023: 6%) · Net Bad Debt Write-Offs remain at 1% of the average lending book, unchanged from the same date one year prior As targeted in the Company's four-year strategic plan (announced in June 2021), lending book growth has continued to be driven by both the Invoice Finance division and the 'Hard' subset of the wider Asset division. Both of these products are in the secured lending arena and provide scope for larger average deal sizes. Ed Rimmer, Chief Executive Officer commented: "As we enter the final year of our four-year medium-term strategic plan, I am very encouraged that the first quarter of the new financial year continues to deliver increased growth in our lending book, our Net Tangible Assets, our Revenues and our Profit Before Tax. The lending book has now seen consistent increases for thirteen consecutive quarters, reflecting the demand for our multi-product offering and the value placed on our first-class customer service by UK businesses seeking access to finance. Pleasingly, our net arrears and net bad debt write-offs are well within our target ranges and underline our commitment to responsible and sustainable lending. The Board, therefore, retains real confidence that the Group is positioned for further growth and will build increased value for its shareholders over time. "The continued strong performance highlights the benefits of the four-year plan we implemented in 2021. With an eye firmly on the future and building on this momentum, management is focused on establishing a new medium-term strategy that will commence from June next year and guide the Company's next period of growth. I look forward to updating our shareholders on that plan towards the end of this calendar year." The Company will deliver a live presentation relating to this trading update and the simultaneously released 2024 Results announcement via the Investor Meet Company platform at 1pm BST today. Existing and potential shareholders can sign up to Investor Meet Company for free and add to meet Time Finance plc via: hxxps://www.investor |
Posted at 30/6/2024 12:41 by hedgehog 100 Smithie6 - 21 Jan 2024 - 11:37:15 - 478 of 662 Time Finance PLC - TIME"I posted X days ago that I reckoned that the SME lending competitor to TIME, MFX, was a better investment & I gave numbers to support my claim. Just for fun let's have a little competition, MFX versus TIME over the coming months, to the end of June '24. Using mid prices. MFX 19p TIME 33.2p" Smithie6 - 27 Jun 2024 - 13:51:20 - 644 of 662 Time Finance PLC - TIME share price competition MFX vs TIME "X months ago I posted this idea/proposal, with the end of June as the end date. Let us see which share is winning. (end of June is at mkt close tomorrow Friday, not today) ...let us use the 20 day moving average price to get share price values, *1, noting that the share price for TIME has been moving about a bit. using mid prices was it the end of Dec. '23 as the starting point ? MFX. start 16.5p : end (1 day early) 19p 2.5p increase on 16.5p % increase = 15% TIME start 36.0p : end (1 day early) 41.5p increase of 5.5p on 36.0p % increase= 15% *1. except, will use current TIME share price since bounced from a dip, the 20 day MA would give an overly pessimistic/depresse CONCLUSION. A draw !!!! both +15% ! that is a big surprise. (I'm an MFX fan but its share price is currently well down on its maximum during the last 6 months, in part due to a complete lack of news flow. TIME is much better than MFX in producing info/newsflow to the mkt. MFX is controlled by a few big shareholders so imo the bod is not interested in devoting time to providing newsflow to the non-controlling shareholders & are instead hopefully busy trying to develop the co.)" Well I'm always up for a bit of fun, so please let me join in! The final s.p.s concerned, as at close of trading on Friday 28th. June 2024, were as follows:- MFX 19p = 0 change TIME 43.25p = +30.27% So well done to TIME on a cracking rise & win. Despite Smithie6 having the considerable advantage of being able to cherry pick the most favourable start and end dates for this contest. And a zero for a zero ... how very appropriate! But perhaps more concerning is Smithie's attempt to rewrite history with his made up b.s. in post 644 above. Look through Smithie's posting history, on both TIME & MFX, and you will see that he never said any such thing as he is now claiming. Goebbels himself would be proud. |
Posted at 15/1/2024 12:06 by smithie6 Valuation comparison of MFX Vs TIME---- MFX surely/phps has a bigger nett interest margin because it pays out a lower % because most of its money comes from depositors at the bank which is part of MFX. ...does anyone agree with me that MFX is under priced wrt TIME ? TIME. p/e. ~7-8, if my memory is correct MFX. p/e. 4.5 (If the p/e for MFX went from 4.5 to just 6 that would be an increase of 33% wrt the current share price) MFX has a loan book double the size that TIME has, yet TIME is valued at ~£31m vs only £20m for MFX !! Looks illogical imo. And MFX surely/phps has a bigger nett interest margin because it pays out a lower % because most of its money comes from depositors at the bank which is part of MFX. ...does anyone agree with me that MFX is under priced wrt TIME ? TIME. p/e. ~7-8, if my memory is correct MFX. p/e. 4.5 (If the p/e for MFX went from 4.5 to just 6 that would be an increase of 33% wrt the current share price) Loanbook Time £170 million (May '23) MFX. £343 million (@ end June '23) Loanbook per £ of cap. value TIME. 170/31= 5.5 MFX. 343 m/ 20m = 17.2 MFX wins that ratio by X3 !!!!!! ------ PAT per £ of cap. value TIME. £3.4m /£31m= 0.11 MFX. £3.8m (2 X H1)/20= 0.19 MFX is much cheaper. For £1 of shares at MFX one gets ~50% more PAT than at TIME. ---- Revenue TIME. 27.6m MFX 42.8m (2 X H1) Revenue per £ of Cap. Value TIME . 27.6/31= 0.89 MFX. 42.8/20= 2.14 MFX wins this ratio by miles, by >X2 ! --- Cost of funds TIME MFX. 3.4% (A low cost of funds is of course good since it has a major impact on profit) |
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