Time speeds up as profits increase by 35%

Time Finance is on schedule with its four-year strategic plan that focuses on growing its lending book to increase revenues.

Pre-tax profits have clocked in at £2.7m for the six months to November – with the 35% increase outpacing the 19% improvement in revenues, which reached £15.7m.

Time’s chief executive Ed Rimmer said he was “very encouraged” by the performance of the AIM-listed company.

This has been driven by two typically-larger products – invoice finance and the “hard” subset of asset finance – which have accounted for 80% of new deal volume originated in the first half of the financial year.

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.

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