12th Nov 2024 14:26
(Alliance News) - Time Finance PLC on Tuesday said it now expects full-year results to be ahead of market expectations.
Time Finance shares were up 11% at 58.40 pence in London on Tuesday afternoon.
The Bath, England-based asset, loan and invoice finance provider for small and medium enterprises said it expects revenue and pretax profit for the current financial year ending on May 31 to be over GBP35.1 million and GBP7.2 million respectively.
Market expectations for the company currently stand at GBP34.5 million in revenue and GBP6.9 million in pretax profit. Following "positive trading in the first five months" of financial 2025, Time Finance's expectations are ahead by 1.7% for revenue and 4.4% for pretax profit, respectively.
For financial 2024 Time Finance reported revenue of GBP33.2 million and pretax profit of GBP5.9 million, marking increases of 20% and 40% from GBP27.6 million and GBP4.2 million, respectively, in the prior year.
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights reserved.