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Time Finance Plc

0.70 (2.61%)
Share Name Share Symbol Market Type Share ISIN Share Description
Time Finance Plc LSE:TIME London Ordinary Share GB00BCDBXK43 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.70 2.61% 27.50 69,796 08:36:40
Bid Price Offer Price High Price Low Price Open Price
27.00 28.00 27.50 26.80 26.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electrical Machy, Equip, Nec 23.61 0.92 1.00 26.80 25.44
Last Trade Time Trade Type Trade Size Trade Price Currency
17:07:22 O 20,000 27.50 GBX

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Date Time Title Posts
01/6/202311:16Time Finance PLC220
26/4/202218:16TIME to get on board....3,291
17/1/201107:55Time Travel - Does it exist ?1
06/8/200923:17It's the moment of a lifetime: 12:34:56 on the 7/8/9?-

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Time Finance (TIME) Most Recent Trades

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Posted at 24/5/2023 10:25 by someuwin
Time Finance @time_finance

We are very excited to announce that Time Finance has been confirmed as a finalist in three categories for the Asset Finance Connect Summer Awards.

🏆Asset Finance Provider of the Year
🏆Outstanding Achievement Award
🏆Abbie Mosley for Rising Star of the Year

We would like to congratulate all other finalists in what is set out to be a fantastic evening that recognizes the achievements and contributions of outstanding professionals in the Asset Finance industry.

Posted at 24/5/2023 09:27 by someuwin
24 May 2023


Time Finance plc

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

Delivery of First Asset Based Lending Facility

Time Finance plc (AIM: TIME), the independent specialist finance provider, is pleased to announce that it has delivered its first Asset Based Lending (ABL) facility to aid the expansion of a growing steel structural engineering firm based in the Southeast of England.

The GBP1.1m facility has been tailored to release critical working capital, providing headroom for the client company to take on a number of important new contracts and comprises GBP650,000 in Invoice Financing and a GBP450,000 Property Loan component.

The Group's ABL product, which has been developed within the Invoice Finance Division over the past 12 months, can now provide SMEs with the opportunity to drive growth plans and support day-to-day business expenses, including supplier and HMRC payments, stock and materials purchasing and employee wages. By leveraging existing assets, including invoices, stock, and property, businesses can overcome cash flow challenges and access essential working capital.

Ed Rimmer, CEO of Time Finance, commented,

"Delivering our first ABL facility underlines how Time Finance works closely with clients and introducers to develop comprehensive and innovative funding solutions to businesses of all sizes across the UK. Our stated aims to become a nationally recognised SME funder, to double our Gross Lending Book and to generate organic profits beyond pre-covid levels whilst significantly strengthening the balance sheet by 2025, remain on track."

Posted at 10/5/2023 11:31 by someuwin
Time Finance @time_finance

🚀 This month marks another lending milestone for Time Finance, as we deliver our first Asset Based Lending facility.

🌱 The £1.1million ABL facility which combines a £650,000 Invoice Finance facility and £450,000 Property Loan will provide essential working capital to help a growing engineering firm to take on new contracts and increase its turnover to £10 million in 2023.

🗣 Our Managing Director of Invoice Finance, Phil Chesham, said: “Completing our first Asset Based Lending facility is a great achievement for Time Finance and one that further underlines the appetite we have to provide comprehensive funding solutions to businesses of all sizes through combined facilities."

Posted at 03/5/2023 09:28 by devonlad
That is true rimau1, but they are not growing as fast as TIME, if you look at it from a glass half full scenario. TIME invest heavily in progressing their offering to their clients, a great way to grow organically, they improve what they have and then make it beter again. Even Llliyds have started offering invoice financing but if you are a decent sized business, you need a specilaist that provides a good service as well as the finance, that is what TIME does really well, they listen to their clients and progress their offering allowing them to grow faster. At some point, they will get taken out.
Posted at 03/5/2023 07:04 by someuwin

3 May 2023

Time Finance plc

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

Trading Update and Notice of Final Results

Full-year results expected to be further ahead of current market expectations

Time Finance plc, the AIM listed independent specialist finance provider, is pleased to announce that trading for the full financial year to 31 May 2023 ("FY23") is expected to be ahead of the latest market expectations(1) as announced in its trading update of 8 March 2023. After 11 months of continued positive trading momentum, the Board is confident that FY23 revenue and profit before tax will now be not less than GBP26.7m and GBP4.0m respectively.

The Group will provide a full trading update for FY23 on Thursday 29 June 2023, prior to publication of the full, audited FY23 financial statements on Tuesday 26 September 2023.

1. FY23 market expectations at time of announcement of GBP26.0m of revenue and GBP3.6m of PBT .

Posted at 28/4/2023 16:03 by someuwin
Reading about Barclays in The Times...

"Barclays profits hit 12-year high after surge in interest rates"

Says that lenders are being boosted by rate rises being pushed through by the Bank of England. This is enabling commercial lenders to increase their net interest margins.

If so, has to be good for TIME too.

Posted at 27/3/2023 13:10 by devonlad
Probably a positive one Doobz. Bank lending and support for businesses by the main high Street banks in this country has been shocking for years, hence the growth of alternative funders like TIME, FCH and MFX (I hold all three). The banks just don't get small business funding, they never have for a very long time and alterntaive funders that provide invoice funding, as an example, provide a much more flexible way for businesses to borrow and grow. Once you can show businesses an alternative way of funding, they tend to stay that way. I have used FCH several times and they are so much better than any high street bank for business funding.
Posted at 17/2/2023 11:24 by z1co

Time Finance is pleased to announce the appointment of Casey Baldwin as Business Development Manager in its Invoice Finance team as it sets out to bolster its support to SMEs in Yorkshire and the North East of England.

Casey joins Time Finance with 10 year’s experience in the Invoice Finance sector, having spent her career working alongside both national brokers and business owners to package supportive and flexible funding solutions. Casey most recently worked at Novuna where she spent 3 years as a Business Development Manager. Prior to that, she gained experience in business development and relationship management roles at Bibby Financial Services, Aldermore Bank and RBS Invoice Finance.

In her new position, Casey will be responsible for building and maintaining strong introducer relations across Yorkshire and the North East, whilst generating awareness of the Invoice Finance solutions available to business owners and intermediaries through Time Finance.

Speaking of her appointment, Casey said: “I’m really excited to be joining the Time Finance team. Their Invoice Finance division have an excellent reputation in the market and are well known for their common-sense approach to structuring funding solutions and achieving high client retention figures. Their broad offering and appetite to support more businesses is a great talking point and opens up a lot of opportunities to help businesses with all aspects of their financing needs.

“For me, stepping into this role also comes at a crucial time. The challenges that the SME market currently faces leaves many in need of a tailored solution that can help them in overcoming cashflow issues within their business and operations. I’m looking forward to building up my network of trusted introducers and working closely with them to spot opportunities and react swiftly to their clients’ funding requirements.”

Invoice Finance can relieve pressure on cashflow and give businesses the freedom to grow. By releasing up to 90% of the value of unpaid invoices, businesses can access additional working capital and use the funds to support day-to-day cashflow requirements or fuel investment plans.

Time Finance offers Confidential and Disclosed Invoice Finance facilities ranging from £10,000 to £2.5million, with the added flexibility that their funding lines can grow alongside a business.

Andy Hume, Head of Sales at Time Finance, added: “Casey is a great addition to our team, and we are delighted to have her on board as we continue to expand our presence across the UK.

“As a national sales team, we are committed to delivering valuable and staple finance solutions to businesses who are looking to release additional working capital for additional headroom and growth. We have ambitious growth objectives to continue enabling UK SMEs to gain easy access to Invoice Finance solutions, and considering the wider challenges that the current market is facing Casey’s appointment could not come at a better time to help us to achieve this”.

Casey’s recruitment is the latest in a string of appointments at Time Finance in recent months. Jake Smedley joined as Business Development Manager in the Yorkshire, Humberside and Lincolnshire region, whilst Kevin Howard joined as Head of Relationship Management. As it continues to invest in its people, the firm also celebrated the launch of their new Invoice Finance office in Reading in October of last year.

Posted at 29/1/2022 13:14 by red ninja
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."


Posted at 05/12/2021 15:43 by red ninja

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.”


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