Time Finance (TIME)

Sector:

Financials

Index:

FTSE AIM All-Share

50.50p
   
  • Change Today:
      1.50p
  • 52 Week High: 64.50
  • 52 Week Low: 36.50
  • Currency: UK Pounds
  • Shares Issued: 92.51m
  • Volume: 477,402
  • Market Cap: £46.72m
  • RiskGrade: 204
  • Beta: 0.00

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Time Finance H1 profits surge as lending book hits fresh record

By Iain Gilbert

Date: Thursday 19 Dec 2024

LONDON (ShareCast) - (Sharecast News) - Specialist finance provider Time Finance said on Thursday that both revenue and profits had grown in the six months ended 30 November as the group continued to increase the size of its lending book.
Time Finance said revenues were up 16% at £18.2m, while pre-tax profits were 44% higher at £3.9m. Pre-tax margins improved by 4% to 21%.

The AIM-listed group stated its gross lending book had grown 11% to a record £209.4m, with net arrears remaining and net bad debt write-offs both remaining stable at 5% and 1% of its gross lending book value, respectively.

Time Finance added that it had continued to see "positive trading momentum" and that its FY performance would be at least in line with recently upgraded market guidance.

Chief executive Ed Rimmer said: "In line with our strategy, we have continued to increase the size of our lending book and, crucially, have done so without compromising on credit quality. This is borne out by the stable nature of both our arrears and our write-offs. This approach, combined with a renewed focus on margins, has led to significant increases in both revenues and profitability, both of which are record figures for the first half of a financial year.

"We have real confidence that the group is well placed to continue on this growth trajectory, building long-term value for our shareholders, and I look forward to updating our shareholders on our future strategy through to May 2028 in Q1 of 2025."

As of 0900 GMT, Time Finance shares were down 2.17% at 58.70p.





Reporting by Iain Gilbert at Sharecast.com

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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 50.50p
Change Today 1.50p
% Change 3.06 %
52 Week High 64.50
52 Week Low 36.50
Volume 477,402
Shares Issued 92.51m
Market Cap £46.72m
Beta 0.00
RiskGrade 204

Time Finance Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
11.27% above the market average11.27% above the market average11.27% above the market average11.27% above the market average11.27% above the market average
26.92% below the sector average26.92% below the sector average26.92% below the sector average26.92% below the sector average26.92% below the sector average
Price Trend
60.10% above the market average60.10% above the market average60.10% above the market average60.10% above the market average60.10% above the market average
52.73% above the sector average52.73% above the sector average52.73% above the sector average52.73% above the sector average52.73% above the sector average
Income Not Available
Growth
89.74% above the market average89.74% above the market average89.74% above the market average89.74% above the market average89.74% above the market average
91.67% above the sector average91.67% above the sector average91.67% above the sector average91.67% above the sector average91.67% 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 01-Apr-2025

Time Volume / Share Price
15:41 29,232 @ 50.50p
15:26 29,232 @ 49.40p
16:23 9,627 @ 50.08p
15:49 1,430 @ 50.50p
14:48 980 @ 50.50p

Time Finance Key Personnel

CFO James Roberts
CEO Edward Rimmer

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