Time Finance Share Discussion Threads

[someuwin] 16/10/2024 10:14

Time Finance @time_finance

🚀Off the back of our excellent year-end results, we are delighted to share with you some numbers from our Invoice Finance division which demonstrate how we have increased our market share and volume of business during the last financial year.

🤝 45% increase in profits from 22/23 to 23/24

👏 14% increase in funding during the last financial year

✅ 43% increase in the number of deals completed with funding lines over £500k

📈 50% increase in facility limits

[someuwin] 14/10/2024 08:36

Time Finance @time_finance

We have been shortlisted! 🏆

We are delighted to be shortlisted for both Factoring & Invoice Discounter of the Year and Underwriting Team of the Year at this year's
@NACFB Commercial Lender Awards.

Congratulations to all those recognised. We can't wait to celebrate with you on the night 🥂

[someuwin] 08/10/2024 19:54

Time Finance @time_finance
Another deal paid out! ✅

We provided this business with a £400,000 invoice finance facility. The business specialises in the provision of bespoke food and drink gift sets. They required a facility to boost their cashflow after two successful years of trading had led to increased product demand.

Knowing that the latter 3 months of the year are their busiest period, this client was eager to secure funding to accommodate the increase in sales expected as a result of upcoming seasonal spikes.

We were delighted to step in to help this business prepare for festive fluctuations in their cashflow. We met with the client to hear their vision and ambition for the business and created a funding solution that took their seasonal trading spikes into account.

[boonkoh] 07/10/2024 20:39

Trading volume unusually high, more than one week after results.Like 3x average IMO. Normally it falls back by a weeks time. This time something has changed.Coupled with the higher share price than ever before, the notional value traded is astounding compared to the last 2-3yrs history of this share.(I hold in the Boon Fund)

[davidosh] 07/10/2024 13:09

It has just broken through 60p....It was seven years ago when it was last over 60p.

Good management team doing all the right things. Come and meet them at the Derby event next month.

[someuwin] 07/10/2024 12:46

Can't buy many online.

[mello2024] 03/10/2024 19:18

Just to let shareholders and prospective investors know that TIME will be presenting at Mello's 10 year anniversary show on Wednesday 20th November 2024 9am - 7pm.

We have created a two day investor conference that will include 12 top quality keynote speakers, 8 educational workshops and panel sessions, 40 exhibiting companies plus over 60 company presentations for investors to evaluate and understand their current or future investments. Tickets are still available:

[rivaldo] 03/10/2024 10:53

Interesting interview with the CFO:



Extracts:

"We will reinvest the money back into the business,” said Roberts, “….our profit has improved because of the compounding effect – a bigger book means bigger profit […] and using our own generated revenue to lend-on to businesses means we pay less in financing charges and hopefully accrue greater future revenues – a snowballing effect.”

"We could do with the share price being a bit higher,” said Roberts, “[…] we still think the company is undervalued by the market and has plenty more room to grow. […] We’ve increased profit by 40% this year, which is marginally ahead of our predictions, and just on a compounding basis, we expect this to increase more next year, so expect the share price to catch up with the true value of the business.”

"The business is well-balanced between its two main pillars, Asset Financing and Invoice Financing with both growing at similar levels over the year to stand at approximately GBP90m and GBP68m respectively, which, explained Roberts, gives Time Finance a useful hedge against changes in interest rates either up or down, as both legs have an inverse relationship to one another with reference to the base rate."

[rivaldo] 03/10/2024 08:47

Yep, great to see two directors topping up at these new highs. And that one of them is the CFO too - they don't normally like parting with their cash.

[joe say] 03/10/2024 08:05

I don't get the IC anymore but isn't this one of ST's favourites?

If so I'd expect a glowing update

[someuwin] 03/10/2024 08:03

They must've read Cavendish's latest BUY note...

"We have upgraded our 12-month price target to 112p based on Time trading on a FY26E PEG of 1x versus just 0.5x today."

[gswredland] 03/10/2024 08:02

Yes great news, and thanks for posting Chester

[joe say] 03/10/2024 08:00

Not just buying - but topping up existing shareholdings

[buckinghamshirelad] 03/10/2024 07:46

Gosh that is interesting. They are both buying AFTER a spectacular run up to 60p - but they clearly envisage plenty of upside. Very positive. I might have to top up a few more... ;-)

[chester9] 03/10/2024 06:29

CFO and NonExec Chair buying at 60p great confidence on the journey of Time.

[someuwin] 02/10/2024 10:47

New Invoice Finance Deal Alert! 🚨

We provided this engineering company with a £1 million confidential invoice finance facility to support them through their next chapter and bring their new plans to life.

We structured the facility to give the new business the peace of mind through the process, enabling them to enhance their operational efficiencies while significantly lowering their overhead costs. This strategic approach not only streamlines their processes but also positions their business for future sustainable growth.

✅ Our flexible team also offered the business our optional Selective Bad Debt Protection service which provides protection if one of their customers fail to pay.

[someuwin] 02/10/2024 06:08

Time Finance plc

Extended and Improved £65m NatWest Funding Facility

Additional funding providing further headroom for future growth in the Invoice Finance division

Time Finance plc, the AIM listed independent specialist finance provider, is pleased to announce that it has renewed and increased its back-to-back invoice finance funding facility with NatWest to £65m, with £55m fully committed and an additional £10m Accordian element (the "Facility").

The Facility will be applied exclusively to lending to UK businesses and provides the Group's invoice finance business, Time Invoice Finance ("TIF"), with additional funding to meet continued demand from its growing number of SME clients. Since the start of the Company's four-year strategic plan in June 2021 to the end of August 2024, TIF has achieved consistent growth with funds advanced to clients during this period increasing by over 170% to £68m as the business continues to experience robust demand.

Together with recently extended asset finance facilities, that were arranged with other long-standing and supportive funding partners and previously announced on 3 April 2024, the Group is extremely well positioned to continue to fund its future growth plans with total funding facilities available to the Group of over £225 million.

James Roberts, Chief Financial Officer, commented:

"I am delighted that the Group has further strengthened its long-standing relationship with NatWest which continues to thrive not just in our Invoice Finance division but also across the wider Group. We have substantial funding facilities with ample headroom in place across all of our lending divisions. The provision of these larger and more flexible facilities will contribute significantly to our growth strategy and provide additional funding solutions for UK businesses - for whom a flexible and dependable funding partner can make all the difference."

[rivaldo] 01/10/2024 12:37

Another positive-looking write-up post-results not posted here before (subscription-only):



"Time Finance gains momentum

The investment put into IT and processes at small business finance provider Time Finance (LON: TIME) is paying off. More of the additional revenues are dropping through to profit and the share price is above net tangible assets for the first for many years.

Net deals in arrears are around 5% and the bad debt provisions are 1%, which shows the quality of the lending.

In the year to May 2024, revenues improved from £27.6m to £33.2m, while pre-tax profit rose from £4.4m to £6m.

Momentum h..."

[gswredland] 27/9/2024 07:06

Thanks for posting that Rivaldo

[rivaldo] 27/9/2024 06:23

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-on̵7; deals where appropriate, enabling it to optimise business levels through market and economic cycles. The company is recognised as an alternative finance provider offering highly relevant and flexible business finance products for a diverse and expanding base of UK SMEs.

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."

[davidosh] 26/9/2024 12:19

Reposted to make the link work...

[hastings] 26/9/2024 12:04

All good ta, trust you are too.Yes, that Q1 was incredibly strong, so hopefully bodes well for the current and coming period!

[shanklin] 26/9/2024 11:35

Thank you hastings, hope all is well with you?

I asked a couple of questions at yesterday’s IMC, but I should also have asked why Q1 was so incredibly strong, and whether we can draw any conclusions from that for the rest of the year.

[hastings] 26/9/2024 10:46

Write up for interest, following my catch up yesterday.https://martinflitton1.wixsite.com/privatepunter/post/time-isn-t-standing-still-26-09-24

[gswredland] 26/9/2024 10:45

Thank you for posting guys