Time Finance (TIME)

Sector:

Financials

Index:

FTSE AIM All-Share

39.50p
   
  • Change Today:
      0.80p
  • 52 Week High: 42.70
  • 52 Week Low: 23.30
  • Currency: UK Pounds
  • Shares Issued: 92.51m
  • Volume: 311,618
  • Market Cap: £36.54m
  • RiskGrade: 204

1PM awaits more clarity on Covid-19 impact before deciding on dividend

By Michele Maatouk

Date: Thursday 26 Mar 2020

LONDON (ShareCast) - (Sharecast News) - 1PM, a specialist provider of finance facilities to UK SMEs, said on Thursday that it will defer a decision on its final dividend until the market situation and effects of the coronavirus outbreak are clearer.
"As with most businesses operating in the non-bank, specialist lending sector, the immediate impact of adherence to the government's advice is that multiple borrowers are requesting payment delays, holidays, or similar forbearance as they adjust to substantially no footfall or sales revenue in their own businesses," it said.

The company said it has always dealt with borrowers on a case-by-case basis and is adhering to this principle as it handles a large volume of in-bound requests for support. "Payment holidays and the rescheduling of lease and loan agreements, as well as further advances within existing facilities to invoice finance clients, are being agreed on a case by case basis where justified," it said.

1pm said it plans to continue supporting "credit-worthy" customers and businesses to ensure they have the opportunity to resume normal trading in the future.

"1pm reiterates that it remains open for new business and will continue to lend, albeit on temporarily tightened and restricted credit criteria," it said.

The group said it has been trading in line with market expectations for the current financial year through to the end of the third quarter, 29 February 2020. However, given the pandemic and the UK lockdown, it is not possible to quantify the impact on its performance in the final quarter.

"Furthermore, given the uncertainty over how long these conditions will prevail, the company is no longer in a position to provide guidance on expectations for its financial performance in the next financial year," it said.

As a result, 1PM said will defer a decision on the amount and timing of any final dividend until there is more clarity on the market situation and the impact of Covid-19.

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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 39.50p
Change Today 0.80p
% Change 2.07 %
52 Week High 42.70
52 Week Low 23.30
Volume 311,618
Shares Issued 92.51m
Market Cap £36.54m
RiskGrade 204

Time Finance Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
26.19% above the market average26.19% above the market average26.19% above the market average26.19% above the market average26.19% above the market average
23.81% below the sector average23.81% below the sector average23.81% below the sector average23.81% below the sector average23.81% below the sector average
Price Trend
95.77% above the market average95.77% above the market average95.77% above the market average95.77% above the market average95.77% above the market average
98.28% above the sector average98.28% above the sector average98.28% above the sector average98.28% above the sector average98.28% above the sector average
Income Not Available
Growth
71.79% above the market average71.79% above the market average71.79% above the market average71.79% above the market average71.79% above the market average
79.63% above the sector average79.63% above the sector average79.63% above the sector average79.63% above the sector average79.63% 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

Time Volume / Share Price
16:45 50,000 @ 38.50p
16:24 4,000 @ 39.89p
15:14 50,000 @ 38.50p
16:08 5,000 @ 39.89p
15:59 10,000 @ 39.10p

Time Finance Key Personnel

CFO James Roberts
CEO Edward Rimmer

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