Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Says it has continued to enjoy positive trading momentum during the first five months of the year ending May 31, 2024. This includes its lending book ‘reaching a record high’ of approximately £180 million at October 31, while arrears have remained ‘static despite the wider macro-economic environment’. Says it now has increased confidence that its performance for financial 2024 will be ahead of current market expectations, which forecast pretax profit of £5.0 million and revenue of £30.1 million. Specifically, it expects pretax profit of at least £5.4 million. In late September, Time Finance announced that pretax profit in the year ended May 31 surged to £4.2 million from £1.1 million the year before, while revenue increased 17% to £27.6 million from £23.6 million. This also surpassed the company’s previous expectations.
Current stock price: 31.89 pence, up 10.0% in London on Thursday afternoon
12-month change: up 96%
Copyright 2023 Alliance News Ltd. All Rights Reserved.