Time Finance plc has delivered an outstanding set of interim results, demonstrating remarkable financial growth and outlining a bold strategy to drive expansion through to May 2028. With soaring revenues, record lending figures, and a clear vision for the future, the company is positioning itself as a key player in the alternative finance market, offering promising opportunities for investors.
The company reported a significant 16% increase in revenue to £18.2 million for the six months ending 30 November 2024, reflecting the strong demand for its alternative finance solutions among UK businesses. Profit before tax surged by an impressive 44% to £3.9 million, highlighting enhanced operational efficiency and improved margins. Earnings per share climbed 39% to 3.24 pence, further reinforcing the company’s solid financial foundation.
A major highlight was the continued growth of Time Finance’s lending book, which reached a record £209.4 million—an 11% year-on-year increase. This sustained growth marks fourteen consecutive quarters of expansion, underscoring the company’s ability to scale while maintaining strong credit quality. Net assets increased to £69.0 million, and net tangible assets rose by 14% to £41.5 million, demonstrating robust financial resilience.
Time Finance continues to prioritise risk management and operational efficiencies, strengthening its senior management team and securing additional funding facilities. These include a £65 million Invoice Finance facility with NatWest and a £64 million Asset Finance facility with the British Business Bank, reinforcing the company’s capacity for sustainable lending growth.
The company has also unveiled an ambitious corporate strategy, building upon its successful medium-term plan set in 2021. Having already doubled its lending book and strengthened profitability, Time Finance now targets a lending book exceeding £300 million by May 2028. The strategy aims to enhance pre-tax profit margins to the mid-twenty percent range and increase return on equity to the mid-teens. Key to this vision is a commitment to resilient lending practices, ensuring that arrears and bad debt write-offs remain at controlled levels while operational efficiencies drive profitability.
Non-Executive Chair Tanya Raynes expressed confidence in the company’s trajectory, emphasising that record lending figures, strong profitability, and disciplined financial management position Time Finance for continued success. She highlighted the company’s ability to generate long-term value for shareholders while maintaining a disciplined approach to growth.
With a clear roadmap for expansion, strong financial fundamentals, and a strategic vision for the future, Time Finance presents a compelling opportunity for investors looking to capitalise on the growing demand for alternative finance solutions.
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.
