Alternative finance specialist Time Finance has reported continued revenue and profit growth after seeing lending reach a record high.
The Aim-listed firm, which has its head office in Bath, posted a pre-tax profit of £1.3m during the first quarter of its new financial year, a 44% rise on Q1 of 2022/23.
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Revenue rose by around a fifth to £7.6m from £6.3m as its lending book continued to grow, increasing 3% to a record £175.8m since the end of its previous financial year.
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.