27th Feb 2025 12:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with Cavendish's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
27 February 2025
Time Finance plc
("Time Finance", the "Group" or the "Company")
Notice of Trading Update
Full-year results now expected to be ahead of market expectations
Time Finance plc, the AIM listed independent specialist finance provider, announces that it has continued to enjoy positive trading momentum throughout the first nine months of the 2024/25 financial year ("FY25") and confirms that the Company will provide its planned trading update in respect of Q3 FY25 on Tuesday 25 March 2025.
This positive momentum year-to-date includes record revenues, fifteen consecutive quarters of lending book growth, and arrears remaining well controlled. As a result, the Board is confident that Group performance for FY25 will be ahead of current market expectations1 which were previously raised in November 2024. Following continued strong performance, Revenue and Profit Before Tax for FY25 are now expected to not be less than £36.0m and £7.5m respectively.
1 FY2024/25 market expectations as at the date of this announcement of £35.1m of revenue and £7.2m of profit before tax.
For further information, please contact: | |
| |
Time Finance plc | |
Ed Rimmer, Chief Executive Officer | 01225 474230 |
James Roberts, Chief Financial Officer | |
Cavendish Capital Markets (NOMAD and Broker) | 0207 220 0500 |
Ben Jeynes / Dan Hodkinson (Corporate Finance) Michael Johnson / George Budd / Charlie Combe (Sales and ECM) | |
Walbrook PR | 0207 933 8780 |
Nick Rome / Joe Walker | |
About Time Finance:
Time Finance's purpose is to help UK businesses thrive and survive through the provision of flexible funding facilities. It offers a multi-product range for SMEs concentrating on Asset, Loan and Invoice Finance. While focussed on being an 'own-book' lender, the Group does retain the ability to broke-on deals where appropriate, enabling it to optimize business levels through market and economic cycles.
More information is available on the Company website: www.timefinance.com