UK's Time Finance gains as strong lending book drives HY profit
16/12/2022 14:52
** Shares of finance services provider Time Finance TIME.L
up as much as 15% at 21.9p
** Stock hits highest level since May 12; set to post best
day since April 22, if gains hold
** Company's HY pre-tax profit jumps 67% over a year ago to
2 mln pounds ($2.4 mln) urn:newsml:reuters.com:*:nTUC82BJGN
** HY revenue rises 12% to 13.2 mln pounds
** Time Finance says group saw significant growth in HY
revenue and profit as lending book reached all-time high
** TIME expects group's FY trading to be at least in line
with market expectations, helped by ongoing positive trading
momentum
** "We continue to experience growing levels of demand for
finance from UK businesses..." - CEO Ed Rimmer
** Including session's gain, stock down ~8% YTD
($1 = 0.8201 pounds)
(Reporting by Amna Karimi in Bengaluru)
((Amna.Karimi@thomsonreuters.com; +91 8083261226))