Bath-based alternative finance specialist Time Finance has reported record levels of lending and announced two senior appointments.
In an update ahead of its half-year financial results, the AIM-listed company said continued “positive trading momentum” had seen its lending book reach a record high of around £180m as of the end of October. Bosses said they now expected the group’s full-year performance to be ahead of market expectations, which had projected revenue of £30.1m and pre-tax profits of £5m. The board told investors they now expected pre-tax profit to be “not less than” £5.4m.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.