Bosses at alternative finance provider Time Finance have raised profit expectations for a second time this year, after reporting “significant increases” in its lending book and revenues.
In a set of results for the nine months to the end of February the Aim-listed company announced growth of more than a quarter, with gross lending of £157.2m – up from £124.6m for the same period a year earlier.
The Bath-based company’s own-book lending accounted for £52.9m – up more than a third on last year’s £39.5m.
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.