Time Finance reports strong start to trading for the current year

Time Finance, an AIM-listed finance provider, has reported a strong start to trading for the current year. In a recent trading update for the first quarter, the company stated that it remains on track with its four-year medium-term plan, which was initially announced in June 2021.

The business highlighted that its balance sheet continues to grow in alignment with its strategic goals. As of 31 August 2024, the unaudited value of the company’s Net Tangible Assets surpassed £40 million, reaching a record high.

July and August 2024 also saw record monthly revenues, reflecting the benefits of the company’s focus on own-book lending. Revenues for the first quarter of FY2025 were approximately 20% higher compared to the equivalent period last year, where revenues were £7.6 million.

The company noted that this revenue growth gives them strong confidence in meeting full-year performance expectations in line with market forecasts. Time Finance is set to release its audited annual results for the year ending 31 May 2024 on 25 September 2024.

With its head office in Bath, the company also operates from additional offices in Reading, Manchester, and Warrington.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Time Finance plc

More articles like this

Time Finance plc

Strengthening your business financial health

Managing a business’s finances can be challenging, especially when faced with financial difficulties that impact your credit score. A bad credit score can create obstacles in obtaining funding and increase borrowing costs. However, there are practical

Time Finance plc

Time Finance celebrates strong growth and positive forecasts

Time Finance, a specialist business lender based in Bath, is experiencing significant growth, with expectations to surpass financial targets for the current year. The company now anticipates achieving annual revenues of at least £35.1 million and

Time Finance plc

Time Finance anticipates stronger financial year ahead

Time Finance, a specialist finance provider listed on AIM, has announced its expectations for a stronger-than-anticipated performance for the full year. Over the first five months of the 2024/25 financial year, the company has reported consistent

Time Finance plc

Time Finance appoints Matt Heap as new Head of Credit

Time Finance has welcomed Matt Heap as the new Head of Credit within its Asset Finance division, bringing over two decades of experience in financial services. Matt’s background includes senior positions such as Business Manager at

Time Finance plc

UK budget changes target economic growth and business stability

This year’s Budget announcement has introduced several new measures that the Government hopes will rebuild public finances, create economic growth, and strengthen business foundations across the UK. Among the most notable shifts is a £40 billion