Time Finance Share Discussion Threads

[lennonsalive] 22/4/2022 16:26

Omg.... Interesting

[red ninja] 22/4/2022 16:20

17,475,000 at just under 22.78p ie £4 million trade has caused the price to spike someone sensing value here ...

[km18] 11/3/2022 16:58

...from last month...

Company overview:

Time Finance PLC encompasses divisions specialised providing financial services to UK businesses and customers. The firm is segmented into four trading divisions, involving asset finance, vehicle finance, loan finance and invoice finance. Given the robust diversified funding structure, the firm managed to derive multiple sources of income and thereby operating profit surged from £7.4m to £7.6m. From a valuation perspective, the firm’s P/E ratio stood at 6.3x, significantly lower than the financial sector P/E ratio of 24.7x, which in turn signifies that Time Finance PLC is undervalued with respect to the financial sector and thereby cheaply available for investors to purchase the stock, since the firm’s stock is expected to surge in value. As a result, Time Finance PLC is forecasted to expand at an EPS growth of 52.5%, higher than the financial sector CAGR of 10%, outperforming its competitors.

Brief Analysis:

Operating profit of £7.6m, higher than last year.
EPS growth of 52.7%, above financial sector CAGR of 10%.
P/E ratio of 6.3x, lower than financial sector P/E ratio of 24.7x./...

...from WealthOracleAM

[red ninja] 29/1/2022 13:14

Investor's Champion continue to tip Time Finance :-

"The share price of this specialist finance provider has bounced off lows, but still looks ridiculously good value to us. The business has recovered much faster than originally anticipated and the latest results imply greater ambition than previously. The shares of this Bonkers Bargain looks set to continue to climb."

"Broker forecasts
For the year ending May 2022 these are for revenue of £26.4m and adjusted earnings per share of 2.8 pence.

For May 2023 revenue is forecast to rise to £30.3m with adjusted earnings per share 4.6 pence (+64%).

As anticipated Time appears to have ridden out the Covid storm through its multi-product lending offering and the flexibility of its business model.

While the outlook continues to look challenging, there is no doubting that many SME’s will be in dire need of new finance and Time is well-placed to help.

The presence of Wellesley Finance as a 19% shareholder may be a concern as a potential overhang - in September 2020, Wellesley Finance Limited announced plans to launch a Company Voluntary Arrangement.

At the current share price of 26p (previously 16p) the market capitalisation is still a lowly c£24m, a 20% discount to net tangible assets, which has also been subjected to meaningful bad debt provision. Prior to the pandemic impacting returns, which pulled down earnings per share to 2.6p for the year ending May 2020, this business consistently delivered earnings of more than 6p and 6.8p in 2019 - net income of £6.35m. This equates to a normalised price earnings multiple of only 4x.

Warning: 'Value' has been firmly out of favour....until recently
The overriding risk with this sort of recovery play is the recent preference for so-called growth stocks ahead of traditional value and Time currently sits very firmly in the latter category. However, up until recently it was also delivering admirable revenue and earnings growth, both organically and via acquisitions, and many good quality companies have seen growth stall dramatically as a result of the pandemic. The recent rotation back into value stocks could be a positive sign.

Should the future prove less brutal for its borrowing clients than the market currently anticipates, the share price could swiftly recover back to previous highs and a doubling from the current level looks achievable over the next 12 months. If it continues to languish, an acquirer may pounce."

[red ninja] 29/1/2022 12:46

An asset to the team: Time Finance appoint Steve Nichols as Director of Asset Finance

Time Finance, the specialist asset-based lender has announced today that they have appointed Steve Nichols as Director of Asset Finance. Steve’s appointment reflects the firms’ commitment to asset finance as a vital proposition within its market leading portfolio of funding solutions to UK businesses.

Steve assumes overall responsibility for the operation and performance of Asset Finance for the business and will become a member of the Operating Board. Steve succeeds Carol Roberts as part of a planned progression and the two will work alongside each other in the coming months to support Steve’s transition into the role.

Steve brings two decades of financial services experience to the role having built a credible career working in both relationship and business development roles with an increasing focus on the use of Asset Finance to support growth ambitions. Working with businesses turning over up to £50m his focus has been to help them to source the funding solution that is right for them. Steve joins Time Finance from Simply Asset Finance having held roles at Barclays, Santander, and Close Brothers.

As Steve comments: "The opportunity to join Time Finance was an exciting prospect. The business has undergone change in recent years as it repositions itself as a multi asset funder and are building a strong reputation for delivering a commercially driven approach to funding. The Asset Finance market is recovering quickly as businesses invest in equipment to support growth initiatives. Time Finance are ambitious and have set themselves some challenging objectives which I am looking forward to helping them achieve. They have a strong Asset Finance offering to support businesses looking to invest in vital machinery and suppliers who are looking to grow their sales. They have a genuine commitment to delivering robust funding solutions to UK businesses to inspire confidence and growth”.

Time Finance specialise in the provision or arrangement of funding solutions to over 20,000 UK businesses seeking to access the finance they need to realise their growth plans. UK Businesses can take advantage of an extensive portfolio comprising: Asset Finance, Invoice Finance, Loans and Vehicle Finance. As the market continues to improve, Time Finance are confident that the business is well positioned to take advantage of the opportunities that should arise over the coming months and beyond.

As Ed Rimmer, CEO of Time Finance commented: "Steve is a great addition to the Time Finance leadership team and will carry on the great work that Carol has delivered over the last 3 years. He brings valuable experience which will support SME’s as they look to make the most of the growth opportunities expected in 2022. His experience will prove invaluable in guiding the future development of our asset finance offering as we look to strengthen our propositions and support to the business market as we drive forward our growth strategy.”

[red ninja] 22/1/2022 14:17

TIME FINANCE DOUBLES FUNDING SUPPORT AVAILABLE TO UK SMES
21st January 2022
Sharon Bryden, Director of Commercial Loans & Asset Based Lending at Time Finance

Abingdon-based Time Finance has introduced a new secured lending product to support the growth and investment plans of businesses throughout 2022 and beyond.

In response to an increased demand for finance from UK SMEs Time Finance has doubled its secured loan offering to businesses from £250,000 to £500,000. The facility can be used to support growth plans from investing in new products, vital machinery, or property, to resolving cashflow issues.

The launch is driven by Sharon Bryden, Director of Commercial Loans & Asset Based Lending at Time Finance, who joined the firm in 2021 to help bolster funding support to business owners across the UK. It complements the firm’s existing Commercial Loan offering which already enables UK SMEs to take advantage of Unsecured Loans and VAT loans up to £50,000.

Sharon said: “UK businesses have had a challenging time over the last two years and with Government support initiatives at an end and needing to be repaid, the need to access funds to meet both normal operating expenses and to provide the capital to invest for future growth has heightened. Whilst commercial loans have been part of our portfolio since our inception over two decades ago, there is a renewed ambition to enhance this flexible solution for businesses. Based on feedback from our intermediary network, our new secured loan product is easy to set up and fast to access, giving business owners a solution that supports any number of business initiatives. It complements our existing portfolio of funding solutions and means we can help even more firms realise their plans.”

[tomps2] 21/1/2022 10:52

TIME mentioned in latest PIWORLD/Stockopedia StockSlam

James Tapp ‘slams’ Time Finance (TIME) in the latest PIWORLD/Stockopedia StockSlam at 55m37s

Watch the video here:

Or listen to the podcast here:

[sphere25] 20/1/2022 15:47

Bullish report and bullish research note then. Certainly helps to gain some insight into what I am calling a high risker, but that's me.

These blocks going through at 26p are interesting. This might be sellers clearing for a pop higher.

Mopping @26p
150k
269k
50k

1.45m overall volume and rising so strong interest here today.

I have traded these and nipped back in a for a few today.

If you held a gun to my head and said pick a shorter term target price, I'd say 15-25% upside to at least get back to TNAV.

BANG!


All imo
DYOR

[cheshire man] 20/1/2022 08:30

This is what they had to say yupawiese :-)

Time Finance
Ticker: TIME
Exchange: AIM
timefinance.com/
Time Finance provides support to UK businesses through the provision of a broad portfolio of finance solutions, designed to meet the unique needs of businesses today at times when the traditional banks may not be able to help.

20 JAN 2022
Early strategic progress not reflected in valuation
Front page January 2022
Download the full report as a PDF document
Download now
H1 ‘22 results (to 30 Nov ‘21) show steady progress on key metrics, with signs that Time’s refined strategy under the leadership of CEO Ed Rimmer (appointed 1 Jun ‘21) is resulting in a return to growth, following the Covid-induced pullbacks in lending markets in 2020 and 2021.

£58.1m of new loans were originated in H1 ‘22, up 25% over H2 ‘21, and 3% y-o-y. The gross loan book increased 4% from £115.7m on 31 May ‘21 to £120.5m. Revenue was flat y-o-y (£11.8m v £11.9m in H1 ‘21), with PBT slightly down at £1.20m vs £1.35m. However, the H1 ‘21 figures benefitted from non-recurring furlough income, so PBT would be 1% up y-o-y if this is excluded.

Time’s balance sheet remained strong, with Net Tangible Assets increasing to £29.6m, and it maintained a healthy cash position of £9.6m. Time’s price-to-book ratio is 0.41 compared to a peer median of 1.41; its market cap of £23.3m represents a 20% discount to Net Tangible Assets; and its PER of 12.7 (and forward PER of 11.0) is undemanding.

Our fundamental value stands at 45p per share, not far from double the current share price.

[yupawiese2010] 20/1/2022 08:11

Equity Developments have just released a note relating to int res,

Sadly ADVFN block clickable link.

[edmonda] 20/1/2022 07:45

The interim results show a return to growth, progress on key metrics and the balance sheet is strong.
Equity Development's fundamental value comes out at 45p/share, nearly twice current levels. Free access to ead / listen to that new note here:

[rimau1] 14/1/2022 07:28

It should be a bullish outlook in the update on Thursday - STB have just smashed their Q4 core loan book growth targets so a nice read across since Time operate in most of STB’s alternative lending fields (vehicle/trade/vendor/real estate) albeit on a much smaller scale.

[sphere25] 13/1/2022 16:03

Tipped by the Naked Trader along with the likes of ADF, GATC and SAG.

Not much effect here but looks like the tippers are back with ST first, now NT. SCSW and their NAPS at the weekend too so maybe we can piggy back off the likes of some of these tips too.

All imo
DYOR

[yupawiese2010] 09/1/2022 15:02

Commentary from Master Investor.

[boonkoh] 07/1/2022 15:37

This will rise along with overall banking sector.Increased interest rate expectations means potentially more NIM. Not too much for TIME compared to banks, who are able to use a huge current account 0% savings base.But NIM will nevertheless still increase for TIME, assuming bad debt and impairments holds steady.

[sphere25] 07/1/2022 15:32

Had a little nibble here trying to play the breakout.

Noticing TIME rising on alot of selling. It has been the case for a short while now with someone in the background happy to mop up shares ahead of the results on the 20th January.

The update in December shows Net Tangible Assets have grown slightly to 31p so abit of a discount here (the offer was 24p when I was typing but has now shifted to 25p so might not even be worth a go here...15:35 EDIT offer now 26.5p...YUK! NM) but not familiar with this one so hard to say how much of a discount that should be.

I just want to lob into a spike IF i can get one before the results.

Nothing fancy about this one.

All imo
DYOR

[jimtech] 31/12/2021 08:14

Thank you for posting, David.
Would you mind letting us know which of these are clients of yours?

[burtond1] 31/12/2021 06:41

12 Companies to follow in 2022Here, we have carefully selected a dozen "alternative" companies all of which should be worth following over the next 12 months...Companies covered :#GUN #HMI #HEMO #JADE #LIFE #NZI #OTMP #ORPH #POLB #SEED #TIME #VRShttps://total-market-solutions.com/2021/12/12-companies-to-follow-in-2022/

[edmonda] 15/12/2021 11:26

Today TIME reported positive loan origination momentum plus increases in both its gross lending book and Net Tangible Assets.

In a new research note Equity Development retains forecasts and its 50p/share core value: read note and listen to summary here:

[red ninja] 05/12/2021 15:43

TIME FINANCE BOOSTS COMMERCIAL LOAN TEAM WITH APPOINTMENT

2nd December 2021

Jake Bebbington, BDM at Time Finance

Time Finance has appointed Jake Bebbington as Business Development Manager, a newly created role to drive its Commercial Loan offering to UK SMEs.

Jake joins Abingdon-based Time Finance with more than 10 years’ industry experience, having spent much of his career helping businesses access the funding they need to drive their business forward. In his new role, he will be responsible for expanding Time Finance’s secured and unsecured commercial loan offerings alongside the Government-backed Recovery Loan Scheme of which Time Finance is an accredited lending partner. Working closely with financial intermediaries, Jake will offer their business owner clients a flexible source of funding to support current and future plans – from stabilising cashflow to fuelling expansion.

Jake said: “It’s an exciting time to be joining Time Finance. There’s definite momentum in the market with investment high on the agenda and many business owners looking for cashflow funding solutions to help capitalise on new opportunities. Stepping up to this new role presents a great opportunity to drive support through our Commercial Loan offering.”

Time Finance specialise in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. UK Businesses can take advantage of an extensive portfolio comprising: Asset Finance, Invoice Finance, Commercial Loans, Property Finance and Vehicle Finance. As the market continues to improve, Time Finance is confident that the business is well positioned to take advantage of the opportunities that should arise over the coming months and beyond.

Sharon Bryden, Director of Commercial Loans and ABL at Time Finance, said: “We are delighted to welcome Jake to Time Finance as we continue to expand our team and bring great talent into the business. He will undoubtedly be a great addition and support us in our efforts to help more businesses bring their growth plans to life.”

[red ninja] 19/11/2021 16:09

Time Finance secures increased funding facility as part of ‘ambitious’ growth plans
The Bath-headquartered firm has renewed a deal with RBS Invoice Finance for a further three years

Bath-headquartered Time Finance has announced it has renewed a financial assistance programme with the invoice division of RBS as part of the firm’s “ambitious” growth plans.

The AIM-listed finance provider has signed a three-year deal with RBS Invoice Finance (RBSIF) on a £50m back-to-back facility, which will be used exclusively to provide an increase in invoice finance facilities to business owners throughout the UK.

The business said that the increased funding would allow it to support more firms with invoice facilities “than ever before”, with facilities available of up to £2.5m.

The firm said that it had remained committed to enabling businesses to access funding solutions during what it described as a “very challenging” 18 months for business.

It added that it had recently seen an increase in the level of funding requests, as firms continue to build their recovery from the impact of the pandemic.

Phil Chesham, Time Finance's head of invoice finance, said the deal was a “significant boost” to the firm and reflected RBSIF’s confidence in its ability to provide funding support to firms across the UK.

Mr Chesham said: “[The increased funding facility] not only supports our ambitious growth plans, but it also means that we are able to make available additional funding to SMEs looking to access funding and take their business to the next level.

“Our team work closely with our clients and have seen first-hand the difference the right funding solution can make to the success of a firm’s plans”.

[boonkoh] 30/10/2021 08:47

Interesting, flurry of trades at the end of Friday. Wondering if some news has leaked.FWIW there's now good macro momentum here. Begbies latest Ref Flag report states that business distress has fallen, as companies have traded well. So probably looking to invest for growth now. Labour shortages and wage increases mean capex investment in machinery should be top of the agenda for many companies. High Street banks starting to raise interest rates on loans indicate NIM should be handily higher next year.Even if you believe the company won't be better next year, the rising tide will raise all boats...

[red ninja] 22/9/2021 15:29

Yeah, well the pandemic has not done many favours to Time.

However, at 1.98p earnings per share ie p/e of approx 12 and
Consolidated Net Tangible Assets at 31 May 2021 of £28.4m (2020: £26.5m), an increase of 7%.

They are not expensive as a recovery stock.

Also for May 2023 revenue is forecast to rise to £30.8m with adjusted earnings per share 4.6 pence (+64%).

However, there may be problems ahead ...

[boonkoh] 21/9/2021 08:34

Still struggling to build lending volumes back to pre covid levels. Outlook statement doesn't sound very confident this will happen in the next 6 months.Overall I think either they've gotten weaker during covid, or the market is way too competitive at the moment. Exacerbated by easy access to covid funds from small businesses.One to file in a long term watchlist and revisit in a few months time IMO.

[edmonda] 21/9/2021 07:33

#TIME FY21 results (to 31 May) are in line with expectations. While business volumes and revenue were hit by the pandemic slowdown, TIME stayed profitable (unlike many other lenders) with cost cutting measures actually boosting margins, and the balance sheet remaining strong. New CEO Ed Rimmer has already started to lay the foundations for a return to growth, and is looking to double the size of the lending book over four years through organic growth.

Despite lower trading volumes, profit before tax, exceptional items and share-based payments (PBTE - probably the best measure of core trading performance) was £3.1m (FY20: £3.0m). PBTE margin increased from 10.1% to 13.0%.

TIME looks well positioned to grow both the top and bottom line as: economic tailwinds favour of a return to growth; the credit environment is improving, suggesting a potential boost to profitability; and the business itself looks robust to us.

We think the business is undervalued. Our core value is 50p per share, almost double the current share price. Moreover, its market-to-book ratio is 0.41 compared to a peer median of 1.36