Time Finance posts strong results amid challenging market conditions
25th Sep 2024 14:52
(Alliance News) - Time Finance PLC on Wednesday reported increased annual profit and revenue despite "macro-economic headwinds". Read More
(Alliance News) - Time Finance PLC on Wednesday reported increased annual profit and revenue despite "macro-economic headwinds". Read More
Time Finance PLC - Bath, England-based asset, loan and invoice finance for small and medium enterprises - Ahead of its annual results on September 25, Time Finance says says net tangible assets exceed GBP40 million as of August 31. July and August, the second and third month of its new financial year, both saw record revenue, it says. Revenue in the first quarter as a whole was 20% up on GBP7.6 million a year before, which would place it at GBP9.1 million. This gives the company confidence in achieving a full-year performance in line with market expectations, it says. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
Time Finance PLC - finance provider to small and medium businesses - Issues trading update for financial year ended May 31. Says it delivered "significant increases" across its key performance indicators, with revenue and profitability ahead of market expectations. Revenue jumps 20% to GBP33.0 million from GBP27.6 million a year earlier. Pretax profit surged 38% to GBP5.8 million from GBP4.2 million. Read More
Time Finance PLC - finance provider to small and medium businesses - Agrees extension to its existing asset finance facility with the British Business Bank under its Enable funding programme. The current GBP35 million hard asset facility increases to GBP64 million and will also be available to fund the group's vendor finance offering. This facility, along with further recently renewed and enhanced facilities, provides over GBP40 million of new funding capacity. Increases total funding facilities available to over GBP200 million. Time Finance says demand for asset finance remains strong. Chief Financial Officer James Roberts says: "The enhanced facility will enable Time Finance to provide additional funding to UK SMEs for their business-critical equipment in one of our more secured and key strategic growth areas." Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on this week and Friday and not separately reported by Alliance News: Read More
Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Notes continued sound demand from businesses across the UK for the range of alternative finance products that the company offers. Says positive trading momentum continued throughout December, January and February. Expects revenue in the current financial year ending May 31 to rise by at least 14% to GBP31.5 million from GBP27.6 million in financial 2023. Further, anticipates pretax profit to jump at least 37% to GBP5.7 million from GBP4.2 million a year prior, which it says is ahead of the latest market expectations of GBP30.8 million for revenue and GBP5.4 million for pretax profit. Read More
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Says it has continued to enjoy positive trading momentum during the first five months of the year ending May 31, 2024. This includes its lending book "reaching a record high" of approximately GBP180 million at October 31, while arrears have remained "static despite the wider macro-economic environment". Says it now has increased confidence that its performance for financial 2024 will be ahead of current market expectations, which forecast pretax profit of GBP5.0 million and revenue of GBP30.1 million. Specifically, it expects pretax profit of at least GBP5.4 million. In late September, Time Finance announced that pretax profit in the year ended May 31 surged to GBP4.2 million from GBP1.1 million the year before, while revenue increased 17% to GBP27.6 million from GBP23.6 million. This also surpassed the company's previous expectations. Read More
(Alliance News) - Time Finance PLC on Tuesday posted higher revenue and profit in its recent financial year and said it is trading in line with market expectations. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - Time Finance PLC on Wednesday said it has delivered its first asset based lending facility, to help aid the expansion of an unnamed steel structural engineering firm based in the south east of England. Read More