Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, has announced its unaudited interim results for the six-months ended 30 November 2023. The Interims reflect continued strong demand from businesses across the UK for the range of alternative finance products offered by the Group.
Financial Highlights:
· Own-Book lending origination up 29% to £47.3m during H1 2023/24 (H1 2022/23: £36.6m)
· Gross lending-book up 24% to a record £188.6m as at 30 November 2023 (30 November 2022: £152.7m)
· Revenue up 19% to £15.7m (H1 2022/23: £13.2m)
· Profit before Tax (“PBT”) up 35% to £2.7m (H1 2022/23: £2.0m)
· Earnings Per Share up 35% to 2.33 pence per share (H1 2022/23: 1.73 pence per share)
· Net deals in arrears remain stable at 6% of the lending book as at 30 November 2023 (30 November 2022: 6%)