Following a year of ambitious growth for the alternative SME lender, aim-listed Time Finance has revealed all-time high annual trading results, with its gross lending book reaching a record £169m and profits up 273%.
Specialising in the provision of business funding solutions: Asset Finance, Invoice Finance, Business Loans, Vehicle Finance and Asset Based Lending, Time Finance supports some 10,000 UK businesses.
Illustrating the success and progression of the firm’s ongoing strategy, Time Finance has announced total revenue has risen by 16% to £27.4m. The firm also reports a significant increase in profit before tax, which has soared 273% to £4.1m. With an increased focus on new business, own-book lending origination rose by 14% to £73.4m.
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.