Time Finance lending book at record levels after ten consecutive quarters of growth

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%)

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