LONDON (ShareCast) - Shares in the asset finance company 1pm jumped nearly 18% on Wednesday after the company said its full-year results will be ahead of market expectations.
The group expects revenues and profits to be ahead of forecasts thanks to strong demand for finance from SMEs, and lower costs.

It said its asset finance and loan portfolios have continued to grow, with £16.1m of new businesses secured during the year - a 49% increase versus the year before.

The company relocated new offices and invested in business development during the period, which is beginning to yield anticipated growth.

1pm issued the trading update ahead of its results for the year ended May 31, which are to scheduled to be released in the second half of July.



Footwear retailer Shoe Zone said it remains confident of the future, but its half-year results were hurt by warm weather conditions during autumn/winter trading and the closure of loss-making stores.

Revenues in the first six months ended 4 April 2015 fell 5.7% to £78.2m and pre-tax profits decreased 26.7% to £2m, driving earnings per share down to 3.17p from 3.65p.

The retailer's autumn/winter trading was affected towards the end of the first half by unseasonal weather, while the group decided to close nine shops which were not profitable.

Despite an increase in footwear sales volumes, the average price fell due to different product mix sales and the market continued to experience deflation in clothing and footwear.

On the bright side, following a successful trial, its launch on eBay in October was completed and achieved 7% of its multichannel revenues. Sales in Amazon also grew, representing 17% of its revenues.

It also declared a dividend of 3.2p per share, after not paying one same time last year due to its initial public offering.

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