REG - Time Finance PLC - Lending Portfolio Update

Time FinanceAnnouncement

11/02/2025 07:00

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RNS Number : 5559W  Time Finance PLC  11 February 2025

 

11 February 2025

Time Finance plc

(the "Group" or the "Company")

 

Lending Portfolio Update

Notice of Q3 Trading Update

 

Hard Asset lending book breaks £100m milestone following 41 consecutive
months of growth

 

Time Finance plc, the AIM listed independent specialist finance provider, is
pleased to announce that the Group's Hard Asset lending portfolio, the focus
of the Group's Asset Finance business, has reached an all-time record high,
exceeding £100 million for the first time.

 

The Hard Asset lending portfolio has now increased in size month-on-month for
three and a half years, highlighting the Company's commitment to driving
own-book secured lending - a key pillar of the Group's stated strategy of
growing its overall lending book to over £300m in 2028.

 

As at 31 January 2025, the unaudited value of the Group's Hard Asset lending
portfolio reached £103 million, a 21% increase since the last financial
year-end (31 May 2024: £85 million), and a 222% increase on its size at the
launch of the Company's growth strategy in June 2021 (31 May 2021: £32
million).

 

As a result, and reflecting the focus on secured lending, the combined Hard
Asset and Invoice Finance lending books represent 80% of the Group's total
overall lending portfolio at 31 January 2025 (31 May 2024: 75%; 31 May 2021:
50%).

 

Notice of Q3 Trading Update

The Group is planning to publish its Q3 Trading Update, reflecting the
nine-month period from 1 June 2024 to 28 February 2025, on Tuesday 25 March
2025.

 

Commenting on achieving this significant lending milestone Ed Rimmer, Chief
Executive, said:

"Growing our lending book is one of the core pillars of our strategic plan and
Hard Asset, alongside Invoice Finance, are the two key areas expected to drive
this growth. To break through the £100m milestone in Hard Asset is an
achievement we are very proud of, and it sets us on a firm footing to achieve
our medium-term aim of growing the combined group lending book to £300m by
the end of May 2028."

 

 

 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                                          Timefinance@walbrookpr.com

 

 

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
(http://www.timefinance.com)

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