Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, has announced that the Group’s Hard Asset lending portfolio, the focus of the Group’s Asset Finance business, has reached an all-time record high, exceeding £100 million for the first time.
The Hard Asset lending portfolio has now increased in size month-on-month for three and a half years, highlighting the Company’s commitment to driving own-book secured lending – a key pillar of the Group’s stated strategy of growing its overall lending book to over £300m in 2028.
As at 31 January 2025, the unaudited value of the Group’s Hard Asset lending portfolio reached £103 million, a 21% increase since the last financial year-end (31 May 2024: £85 million), and a 222% increase on its size at the launch of the Company’s growth strategy in June 2021 (31 May 2021: £32 million).
As a result, and reflecting the focus on secured lending, the combined Hard Asset and Invoice Finance lending books represent 80% of the Group’s total overall lending portfolio at 31 January 2025 (31 May 2024: 75%; 31 May 2021: 50%).