Cant get a buy quote for just £2k. |
Time Finance @time_finance
2024 has been a rewarding year for our team! 🚀🎉
📆 Our Time Finance Wrapped video is here and we are excited to showcase what we have achieved as a business this past year.
2024 was a fantastic year for us. From opening a brand-new office to launching our Graduate Recruitment Programme, look at our highlights in our Year in Review video below.
Here's to another successful year in 2025! 🥂 |
Just added, this is easily worth a quid a share in h1 2025 |
Having a go at new year high, favourite holding by a long shot and easily my largest. Well done this year everyone |
Interesting to see!
As already said they are a bit cautious which I like.
Good to see that Cavendish target |
This is from the H1 trading update a year ago on 19th December '23:
"Continuing positive trading momentum, leading to expectation of Group trading for the full year to be at least in line with recently upgraded market guidance"
i.e almost exactly the same word for word! Subsequently there were at least two further profit upgrades..... |
I am no expert but I think it was this:
"Continuing positive trading momentum; leading to expectation of Group financial performance for the full year to be at least in line with recently upgraded market guidance"
But the management team is cautious (a good thing!) so I think it was a short term profit take for people who have seen very good results but not miles better than anticipated. There was nothing here that was unexpected.
Hoping that we see a gentle reset into the 60s then build from there. I'm in at mid 40s overall so happy!
Wishing you lovely people a somewhat premature wonderful Christmas and profitable New Year.
:-) |
Bought in on the initial weird dip |
Ah I see the usual pattern has resumed here.A spike up before results/TU. Then a fall on the day. And then in the days ahead, it motors up strongly.It's now happened for the last few times this year. Such odd behaviour. But looks like history is repeating itself today!(I hold in the Boon Fund) |
 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." |
On those metrics, TIME valuation seems rather cheap. |
Yep, outstanding H1 results.
The £3.9m PBT in H1 means TIME are in a position to thrash even the recently increased forecast of £7.2m PBT for the year.
Write-offs are small and stable, arrears are actually falling and margins are rising.
The group is transforming to a higher quality loan book against invoices and "Hard" assets.
Most importantly the outlook is rosy and suggestive of further upgrades:
"Continuing positive trading momentum; leading to expectation of Group financial performance for the full year to be at least in line with recently upgraded market guidance" |
Great performance as previously outlined and momentum continues. |
Ahhhh.... that explains the rise
:-) |
Trading update tomorrow |
Time Finance @time_finance
New Invoice Finance Deal Alert! 🚨
🥜 We provided this nut and dried fruits wholesaler with a £300,000 invoice finance facility.
The company needed funding to stabilise cash flow after transitioning from their previous funder. Our flexible funding solution will empower them to take on larger orders without financial limitations, which is crucial for their continued growth.
💷 This facility offers the working capital needed to expand their range of nuts, dried fruits, and granola. It also helps bridge cash flow gaps caused by long payment terms from their debtors, ensuring a steady financial footing moving forward. |
Yes this and YU. my favourite AIM shares. Both looking cheap still |
TIME is one of those rare aim gems, that you buy on the dips and there are only positive market updates, rather than profit warnings |
Thanks Owen
Makes for interesting reading |
Thanks for that hastings, clickable link - |
Write up for further interest.https://martinflitton1.wixsite.com/privatepunter/post/time-marches-on-17-11-24 |
Thanks Hastings
Great info |
Can look at that 2 ways. A) SME's will need additional cashflow and may be knocking on Times door to borrow and or b) bad debt may increase... |
Thanks Hastings but your last quote doesn't sit too well with me
"No real worries on budget (NI) as SME’s have already been dealing with high inflation, sharply upped interest rates and supply chain issues".
That implies SME's can continue to take hit after hit - which common sense tells you is nonsense. At some point the needle is tipped.
The additional NI cost for an average earning employee will increase 25% - and then there's minimum wage changes etc etc |
All in all happy to be holding and will add further on Monday. |
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