REG - Time Finance PLC - Notice of Trading Update

Time FinanceAnnouncement

05/03/2024 07:00

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RNS Number : 5365F  Time Finance PLC  05 March 2024

 

5 March 2024

Time Finance plc

(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 the Group will provide a detailed trading update in respect of
the financial year to 31 May 2024 ("FY24") on 26 March. The FY24 trading
update will fully incorporate nine months of Group trading to 29 February
2024.

 

With continued strong demand from businesses across the UK for the range of
alternative finance products that the Group offers, and with positive trading
momentum continuing throughout December, January and February, the Board has
confidence that FY24 Revenue and Profit Before Tax ("PBT") will now be not
less than £31.5m and £5.7m respectively, each ahead of latest market
expectations((1)).

 

 

(1)   Current market expectations at the date of this announcement are of
FY24 revenue of £30.8m and FY24 PBT of £5.4m.

 

 

For further information, please contact:

 

Time Finance plc

Ed Rimmer, Chief Executive Officer
 
01225 474230

James Roberts, Chief Financial Officer
                                     01225 474230

 

Cavendish Capital Markets (NOMAD)

Ben Jeynes / Dan Hodkinson (Corporate Finance)
                         0207 2200500

Michael Johnson / George Budd / Charlie Combe (Sales)

 

Walbrook PR
 
 0207 9338780

Paul Vann /Joe Walker
 
 07768 807631

                    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) .

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as amended by regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310. Upon the publication of this announcement via
Regulatory Information Service, this inside information is now considered to
be in the public domain.

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