Time Finance PLC Notice of Trading Update

RNS Number : 5365F

Time Finance PLC

05 March 2024

 

 

5 March 2024

Time Finance plc

(the "Group" or the "Company")

 

NOTICE OF TRADING UPDATE

Full Year results now expected to be ahead of market expectations

 

Time Finance plc, the AIM listed independent specialist finance provider, announces that the Group will provide a detailed trading update in respect of the financial year to 31 May 2024 ("FY24") on 26 March. The FY24 trading update will fully incorporate nine months of Group trading to 29 February 2024.

 

With continued strong demand from businesses across the UK for the range of alternative finance products that the Group offers, and with positive trading momentum continuing throughout December, January and February, the Board has confidence that FY24 Revenue and Profit Before Tax ("PBT") will now be not less than £31.5m and £5.7m respectively, each ahead of latest market expectations⁽¹⁾.

 

 

(1)   Current market expectations at the date of this announcement are of FY24 revenue of £30.8m and FY24 PBT of £5.4m.

 

 

For further information, please contact:

 

Time Finance plc

Ed Rimmer, Chief Executive Officer                                                                     01225 474230

James Roberts, Chief Financial Officer                                                                01225 474230

 

Cavendish Capital Markets (NOMAD)

Ben Jeynes / Dan Hodkinson (Corporate Finance)                                              0207 2200500

Michael Johnson / George Budd / Charlie Combe (Sales)

 

Walbrook PR                                                                                                        0207 9338780

Paul Vann /Joe Walker                                                                                          07768 807631

                    [e-mail]

 

About Time Finance:

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 optimize business levels through market and economic cycles.

 

More information is available on the Company website www.timefinance.com.

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

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END

 

 

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