Time Finance PLC Trading Update

RNS Number : 7378L

Time Finance PLC

12 November 2024

 

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12 November 2024

 

Time Finance plc

("Time Finance", the "Group" or the "Company")

 

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 it has continued to enjoy positive trading momentum throughout the first five months of the 2024/25 financial year ("FY25") and confirms that the Company will provide a scheduled trading update in respect of H1 FY25 on Thursday 19 December 2024.

 

This positive momentum year-to-date includes record revenues, a lending book hitting new heights, and arrears remaining well under control. As a result, the Board now has increased confidence that Group performance for FY25 will be ahead of current market expectations¹. Revenue and Profit Before Tax for FY25 are now expected to not be less than £35.1m and £7.2m respectively.

 

 

1       FY2024/25 market expectations as at the date of this announcement of £34.5m of revenue and £6.9m of profit before tax.

 

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 and Broker)	0207 220 0500
Ben Jeynes / Dan Hodkinson (Corporate Finance) Michael Johnson / George Budd / Charlie Combe (Sales and ECM)
Walbrook PR	0207 933 8780
Nick Rome / Joe Walker	[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.

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