Time Finance Share Discussion Threads

[chester9] 12/1/2024 11:59

Just checked Investor meet on Thursday 25th at 1pm. Interims at 7:00 am. It's on RNS. 19th dec

[lennonsalive] 12/1/2024 11:38

Seller still chipping away in 25 k chunksUpdate 20th January

[someuwin] 05/1/2024 12:25

What a fantastic end to the week 🎉

🏆 Our team are delighted to have been named a finalist in this year's Business Moneyfacts Awards for:

Best Factoring & Invoice Discounting Provider
Best Service from an Asset Based Finance Provider
Best Business Motor Finance Provider

Congratulations to our colleagues who continue to go above and beyond. We look forward to celebrating with our industry peers at the ceremony in April 🥂

[gswredland] 28/12/2023 12:30

Great company.
You were certainly correct about a tick up coming someuwin. Added early this morning

[eeza] 28/12/2023 11:30

And they added
"at least"
in line with recently upgraded market guidance"


Which suggests a beat is likely.

[someuwin] 28/12/2023 11:05

19 December 2023...

"Ten consecutive quarters of growth in lending book; significant increases in revenues and profits"

Just got to keep doing what they're doing. No reason they can't keep growing for years to come imo.

[someuwin] 28/12/2023 09:18

Tick up coming.

[red ninja] 23/12/2023 11:53

Investor's Champion paid for tip website update on trading update :-




Trading update for 6 months ending 30 Nov 2023 (09/12/23)
Own-Book lending origination rose 29% to £47.2m, while the overall lending-book has climbed 11% to a mid-point record of £188.5m since the 31 May financial year end and is 23% higher from a year earlier.

The increased size of the lending book is driven by Invoice Finance and the 'Hard' subset of Asset Finance. These two products, being typically larger ticket and more secured in nature, have accounted for approximately 80% of new deal volume originated in the first half, and make up over 70% of the total lending book at 30 November 2023.

The strong growth in the lending book supported a 19% increase in revenue to £15.7m and 35% increase in profit before tax to £2.7m for the 6 months.

Significantly, the increase in the lending book has been achieved without compromising on quality, with net arrears stable at 6% of the lending book, in-line with the previous period.

Net tangible assets rose 6% to £36.4m since the May financial year-end, which compares to the current market capitalisation of £33.3m (share price 36 pence).

Trading for the full year ending 31 May 2024 is anticipated to at least in line with recently upgraded market guidance (see Broker forecasts below).
Broker forecasts
For the year ending May 2024 forecasts remain for revenue of £30.8m, pre-tax profit of £5.4m (+28%) and adjusted earnings per share of 4.4 pence (+26%).

For May 2025 forecasts are for revenue of £33.1m, pre-tax profit to £6.3m with adjusted earnings per share 5.1 pence (+16%).

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

With the significant government support packages no longer in place post-Covid, and with the ever-increasing economic challenges facing small businesses, access to finance will be a key priority for SMEs over the coming months and years.

Bonkers Bargain appeal
At the current share price of 36p (previously 17p) the market capitalisation is still a lowly c£33.m, a c9% discount to net tangible assets at 30 November 2023 of £36.4m, which has also been subjected to meaningful provisions. Despite the strong share price performance over the past 12 months the PE multiple is a lowly 8x forecast earnings for the year to May 2024. 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 approx 6x.

While the shares have had a good run in 2023 to date, they remain well down on previous highs and this business continues to look ridiculously cheap on many levels. The Group's multi-product tailored offering to UK SMEs, its own-book lending strategy and its quality of service have become ever more appreciated by introducers and we struggle to believe the shares can remain at these lowly levels for much longer. If they continue to languish, an acquirer will surely pounce.

[doobz] 22/12/2023 20:07

Smithie - it’s already brushed 40p this year. What makes you think it couldn’t easily rise another 20% or so past that?

[gswredland] 22/12/2023 09:34

Thanks for that someuwin

[someuwin] 22/12/2023 08:59

Time Finance Strategy and Approach to Business Lending Paying Off (VIDEO)

December 22, 2023 7:40 am

Time Finance plc (LON:TIME) CEO Ed Rimmer joins DirectorsTalk Interviews to discuss a trading update in respect of the Group’s performance for the six-months ended 30 November 2023.

With business progressing well, Ed talks us through the main drivers, explains the main company differentiators in the market, how he expects the rest of the financial year playing out through 2024 and what else investors can look out for over the coming months.

[smithie6] 21/12/2023 19:43

Doobz wrote
"Possible final top up for me, confident this will reach 50-60 next year."

....no chance !

This is a company with defined/range bound growth.
Unless someone lends them 100 million at 0% (& when pigs fly) you ain't gonna see 50-60p next year.

[lennonsalive] 21/12/2023 10:33

I have cash ready to invest at 30p if this finds support

[lennonsalive] 21/12/2023 10:32

The business I don't think the management can do anymore to support the share price, apart from introducing dividends. I thought that was going to be discussed this month? Maybe in January?The price it's private investors vs the institution seller. Institution has taken control selling and some private sellers have taken profits.

[doobz] 21/12/2023 10:13

Sad to see it pull back so much on confirmed business strength and especially leading to the strongest time of the year. Remains a long term hold with no current red flags for me

[eeza] 20/12/2023 14:16

The herd seems to be turning.

[owenski] 20/12/2023 13:14

Good buy point IMO, RSI has come down nicely now and that TU confirmed the business is doing well and it wasn't on a high valuation in the first place.

[nakedmolerat] 20/12/2023 12:41

if you want to talk about trends, it's not under 200ma or even 100am. today it could breach 50ma which is long term support.

fundamentals are fantastic here and a great long term hold, think I have been in and out since 15p.

reference seller not obsessed, but aware of them offloading in 25k and 50k chunks. i need to take all factors above into account when trading, not just one on it's own.

i do not have level 2 any more, so wonder what the status of that is.

[someuwin] 20/12/2023 12:33

Amazing buy-in price being offered today!

[davr0s] 19/12/2023 19:49

Some people here seem obsessed with this "seller" - there is always a seller as there is a buyer, there always is and it's what makes the price. Need to avoid reacting to news days as it just shakes some out. I have a full sized position and happy to hold until trend breaks down, which it's not remotely close to getting to - everything else is simply noise (as is Simon Thompson tbh). If it consolidates and breaks up I'll add again - otherwise I try to ignore everything going on

[gswredland] 19/12/2023 13:13

Probably some broker upgrades coming and I wouldn't mind betting ST will tip them again in IC

[doobz] 19/12/2023 11:28

Possible final top up for me, confident this will reach 50-60 next year. Not a chance I’d unload something this cheap with above expectations results

[chester9] 19/12/2023 09:32

SP was due a period of consolidation after recent break out. With presentation in January and latest guidance that expectations at minimum will be met next year should shares continue to rerate. I would expect buying in before the presentations, given likeable ability to underpromise and over deliver. PE at 7.2 is low and hint dividend may return.

[nakedmolerat] 19/12/2023 09:15

i am afraid I took my profits this morning due to the seller who is consistently attacking the bulls here. might look to re enter in the future

good luck all holding and merry christmas