Time Finance delivers continued growth in both revenue and profits

Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, has announced the following update on the Group’s trading performance for the first quarter of the current financial year which ended on 31 August 2023.

Unaudited financial highlights:

·    Own-Book lending origination up 29% to £20.2m (Q1 2022/23: £15.7m)

·    Revenue up 21% to £7.6m (Q1 2022/23: £6.3m)

·    Profit before Tax up 44% to £1.3m (Q1 2022/23: £0.9m)

·    The lending-book continues to grow; increasing 3% to £175.8m since year-end (31 May 2023: £170.1m) and 23% from 12 months prior (31 August 2022: £142.8m)

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