Time Finance Share Discussion Threads

[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

[someuwin] 19/12/2023 08:23

Cavendish...

TIME FINANCE (TIME): CORP
A Jolly Time at Christmas
Time has released an H1/24E trading update pointing to a continuation of strong operating performance for the period ending 30 November 2023. Own-book lending increased 29% to £47.2m, driving the gross book size to a new record of £188.5m at the mid-year point. Overall, revenues increased 19% to £15.7m and PBT increased 35% to £2.7m, nicely demonstrating the operational gearing from the organic top-line growth. Time looks extremely cheap given it is trading on an FY25E P/E of just 7.2x and FY25E P/TNAV of 0.8x, leading us to reiterate our 1-year price target of 47p.

[lennonsalive] 19/12/2023 08:14

The recent interview with the management team is recommended watching for the potential of the company

[eeza] 19/12/2023 07:37

Key

"at least"
in line with recently upgraded market guidance"

[someuwin] 19/12/2023 07:08

19 December 2023

Time Finance plc

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

Half Year Trading Statement

Notice of Interim Results and Investor Presentation

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

Time Finance plc, the AIM listed independent specialist finance provider, is pleased to provide a trading update in respect of the Group's performance for the six-months ended 30 November 2023 ("H1 2023/24"). This update is in advance of the scheduled release of the Group's full H1 2023/24 unaudited Interim Results on 25 January 2023 .

H1 2023/24 Highlights

-- Own-Book lending origination of GBP47.2m, an increase of 29% (H1 2022/23: GBP36.6m)
-- Lending-book continuing to grow, increasing 11% to GBP188.5m since financial year-end (31 May 2023: GBP170.1m) and 23% from the same date 12 months prior (30 November 2022: GBP152.7m)

-- Revenue of GBP15.7m, an increase of 19% (H1 2022/23: GBP13.2m)
-- Profit before Tax of GBP2.7m, an increase of 35% (H1 2022/23: GBP2.0m)
-- Net Arrears remain stable at 6% of the lending book (31 May 2023: 6%; 30 November 2022: 6%)
-- Net Tangible Assets continue to increase - up 6% to GBP36.4m since financial year-end (31 May 2023: GBP34.2m) and 13% from 12 months prior (30 November 2022: GBP32.1m)

-- Continuing positive trading momentum, leading to expectation of Group trading for the full year to be at least in line with recently upgraded market guidance

The increase in revenue is attributable to the compounding effect of continued growth in the size of the lending book. As a key element of the Company's four-year strategic plan from June 2021 to May 2025, 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 H1 2023/24, and make up over 70% of the total lending book as at 30 November 2023.

Ed Rimmer, Chief Executive Officer commented:

"The Board and I are very encouraged by performance in the first half of the current financial year. In line with our strategy, we have continued to increase the size of our lending book and, crucially, have done so without compromising on quality, as borne out by the stable nature of our arrears. This approach has led to increased revenues and profitability. We now have real confidence that the Group is very well placed to continue on this growth trajectory, building long-term value for our shareholders."

Notice of Interim Results and Investor Presentation

The Company is also pleased to announce that Ed Rimmer, CEO, and James Roberts, CFO, will deliver a live presentation covering the H1 2023/24 Interim Results via the Investor Meet Company platform at 1pm on Thursday, 25 January 2023. This follows the publication of the Interim Results earlier that same day.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet Time Finance plc via: . Investors who already follow Time Finance plc on the Investor Meet Company platform will automatically be invited.

[eeza] 14/12/2023 10:09

25k seller still cranking them out.

[chester9] 11/12/2023 16:56

Needs to break 39.2 to pass previous lows of dec 2018. Looking good to do so this week.

[harrywilliam] 11/12/2023 15:40

What a beautiful chart.

[eeza] 11/12/2023 15:01

Must be printing his own.

Threshold must surely have been crossed by now.

[lennonsalive] 11/12/2023 14:48

Seller still here.

[eeza] 08/12/2023 10:15

Depends on whether the long-time seller makes an appearance.

[red ninja] 08/12/2023 10:07

Perhaps, but we can get obsessed by the day to day fluctuations.

[lennonsalive] 08/12/2023 09:55

40p ask by end of the day?

[nakedmolerat] 08/12/2023 08:59

watching the sharesoc video and this just enforces what a great company this is. great growth and plans, also i would think this is a very hot takeover target at such a cheap price for a financial sector business who wants to add a company like this to their services and products

[owenski] 07/12/2023 13:14

Some chunky buys today.

[someuwin] 07/12/2023 13:01

06 DEC 2023

Time Finance is pleased to welcome Tracy Watkinson as Non-Executive Director. Tracy, who has held a number of board-level positions, has been appointed to the Time Finance board to support the delivery of its long-term growth strategy.

With over 20 years’ experience in the finance sector, Tracy has built a credible career in banking delivering change transformation and working in number of senior roles for major financial institutions such as Barclays, UBS and Credit Suisse. Tracy is currently COO of Finance at NatWest Group.

Speaking of her appointment, Tracy comments: “I am delighted to be joining the Time Finance board; the business is clearly on an exciting journey and I look forward to adding value from my own experience to help the team in delivering its next trajectory of growth.”

The AIM-listed alternative finance provider specialises in the provision of funding solutions to over 11,000 UK businesses seeking to access the finance they need to realise their growth plans. UK Businesses can take advantage of Time Finance’s extensive portfolio comprising: Asset Finance, Invoice Finance, Business Loans and Asset Based Lending.

As well as Tracy’s appointment, Time Finance recently welcomed Paul Hird to its Board as Non-Executive Director.

Ed Rimmer, Chief Executive Officer at Time Finance, added: “Tracy is a great appointment for Time Finance. Her expertise within the corporate banking sector, as well as her change management experience and enthusiasm to deliver our strategic vision will prove invaluable. We look forward to working together.”

In its latest financial results for the year ending 31st May 2023, Time Finance celebrated reaching a lending milestone of £169million in funding delivered to UK SMEs, an 18% increase over the last 12 months.

[someuwin] 07/12/2023 12:51

So from that interview it sounds like we might be getting news of dividend payments with the December update?

[lennonsalive] 06/12/2023 14:29

It's good to see more trading volume in the day and positive leading up to the 20th

[eeza] 06/12/2023 13:53

Bid is back to where it started the day.

[lennonsalive] 06/12/2023 13:35

Who's selling into the rise???We are a sniff away from 40p, then upwards to the next level!

[sharesoc] 03/12/2023 21:21

In case you missed our webinar Time Finance plc (TIME), the recording can be found on our YouTube channel:

[lennonsalive] 03/12/2023 19:39

https://www.youtube.com/watch?v=CMvKjaKsc24