Time Finance (TIME)

Sector:

Financials

Index:

FTSE AIM All-Share

 38.70p
   
  • Change Today:
      0.000p
  • 52 Week High: 42.70
  • 52 Week Low: 23.30
  • Currency: UK Pounds
  • Shares Issued: 92.51m
  • Volume: 91,721
  • Market Cap: £35.80m
  • RiskGrade: 204

Strong demand from SME sector drives full-year results for 1pm

By Josh White

Date: Wednesday 05 Jul 2017

LONDON (ShareCast) - (ShareCast News) - Independent specialist finance facilities provider 1pm continued to experience "strong levels of demand" for finance from the small-to-medium enterprise sector in its 2017 financial year, it reported on Wednesday, which was spread across the "growing range" of products offered.
The AIM-traded company issued the trading update ahead of its results for the 12 months to 31 May, due to be released during the week of 11 September.

Its board said the trading results for the year would demonstrate "further strong growth" in both revenue and profits, with revenue for the group set to be marginally ahead of market expectations and profit before tax to be in line with market expectations, after exceptional items.

Revenue for the year of was set to grow 34% to approximately £16.7m, while profit before tax was expected to be 28% higher at £4.3m.

The company said new originated and funded lease and loan business amounted to £50.8m, up 64%, while new originated and 'broked-on' lease and loan business reached £17.7m, up 124%.

Its 'own-book' asset and loan portfolio as at 31 May stood at £77.5m, up 17%, with write-offs in the year continuing to be less than 1% of the gross portfolio.

The company made a "prudent impairment provision" of £1.2m, representing 2.0% of the net portfolio outstanding.

"1pm has enjoyed another year of progress and improved results," said chief executive Ian Smith.

"The figures demonstrate both the anticipated organic growth from our existing group companies and the expected growth from our strategic acquisitions.

"It is also encouraging that each of the group's trading subsidiaries have continued to experience robust levels of demand for finance from across the UK SME sector."

Smith said 1pm's "varied and expanding" product offering, combined with its flexibility to fund and broke-on and its focus on excellent customer service, enabled the group to deliver the results.

"Looking ahead, these core elements of our business, when allied to the successful acquisition strategy we have implemented, mean that we are well positioned to build value for our shareholders."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Time Finance Market Data

Currency UK Pounds
Share Price 38.70p
Change Today 0.000p
% Change 0.00 %
52 Week High 42.70
52 Week Low 23.30
Volume 91,721
Shares Issued 92.51m
Market Cap £35.80m
RiskGrade 204

Time Finance Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.78% above the market average28.78% above the market average28.78% above the market average28.78% above the market average28.78% above the market average
21.9% below the sector average21.9% below the sector average21.9% below the sector average21.9% below the sector average21.9% below the sector average
Price Trend
95.43% above the market average95.43% above the market average95.43% above the market average95.43% above the market average95.43% above the market average
96.55% above the sector average96.55% above the sector average96.55% above the sector average96.55% above the sector average96.55% above the sector average
Income Not Available
Growth
71.63% above the market average71.63% above the market average71.63% above the market average71.63% above the market average71.63% above the market average
77.57% above the sector average77.57% above the sector average77.57% above the sector average77.57% above the sector average77.57% above the sector average

Time Finance Dividends

  Latest Previous
  Final Interim
Ex-Div 31-Oct-19 04-Apr-19
Paid 12-Dec-19 01-May-19
Amount 0.56p 0.28p

Trades for 28-Mar-2024

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10:06 10,000 @ 38.47p
09:27 9,583 @ 38.69p

Time Finance Key Personnel

CFO James Roberts
CEO Edward Rimmer

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