Encouraging first half for Time Finance

AIM-listed independent specialist finance provider Time Finance has reported increased revenues and profitability in its half-year results.

In a trading update for the six-months ended 30 November 2023, the group recorded revenue of £15.7m, up 19 per cent from £13.2m the prior period.

Pre-tax profit was £2.7m, an increase of 35 per cent from £2m the previous year.

The lending-book continued to grow, rising 11 per cent to £188.5m from £170.1m the year ended 31 May 2023 and 23 per cent compared to £152.7m at 30 November 2022.

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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