REG - Time Finance PLC - Trading Update

Time FinanceAnnouncement

12/11/2024 07:00

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RNS Number : 7378L  Time Finance PLC  12 November 2024

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12 November 2024

 

Time Finance plc

("Time Finance", the "Group" or the "Company")

 

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 five months of the 2024/25 financial year ("FY25") and confirms that
the Company will provide a scheduled trading update in respect of H1 FY25 on
Thursday 19 December 2024.

 

This positive momentum year-to-date includes record revenues, a lending book
hitting new heights, and arrears remaining well under control. As a result,
the Board now has increased confidence that Group performance for FY25 will be
ahead of current market expectations(1). Revenue and Profit Before Tax for
FY25 are now expected to not be less than £35.1m and £7.2m respectively.

 

 

1       FY2024/25 market expectations as at the date of this
announcement of £34.5m of revenue and £6.9m of profit before tax.

 

 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 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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